LITIGATION

Hi all

We've been advised by our Lawyers to commence litigation againt HDT.

Obviously, this is going to cost thousands more, but, they are confident that we will get most, if not all our money back, by going down this route.

My questions to you all here is......" How many of you are considering / have started litigation ?"

What I can't get my head around is, if HDT have no money then how can we possibly be paid out ?

Is it worth spending good money....after bad ?

We really don't have the cash to chase after our deposit, and would have to borrow, yet again !!

Any thoughts on this would be much appreciated.

If you don't wish to post on the open forum, then please PM, OK ?

IWMMB

 Barry

I think it is entirely useful to start litigation. Herrada del Tollo will only resolve contracts for those with BG's and then only if they agree to ordinary status. The company is going under so the most important thing to do is to fight for your creditor status. To have your contract resolved dramatically increases your chances of being placed in a higher creditor bracket with far more chance of getting your money back.

Look at the worst case scenario...it goes ahead in some fashion. Herrada del tollo could then force agreement under the concurso for ordinary creditors that thay accept a percentage of their deposit over five years. This would, no doubt, be much reduced. Either way Herrada del Toll and Almun are not out to protect owners rather to screw them.

I understand that the judge is listening to multiple lawsuits from january onwards. I imagine he will listen to them in group actions as I understand that there are many.

Herrada del Tollo are trying very hard, through SARC to tell people that there is no point to this. THERE IS AND THEY ARE LYING

The reality is...if we dont get our money back they wont care. If the banks etc dont get their money back they will make it very difficult for any other remaining businesses plus any new business that they may wish to start in the future. It will impact on them greatly.

If your lawyer can prove breach of contract, then the money is not Herrada Del Tollo's to be shared. It is yours..legally therefore it cannot become part of san jose assets

The only part I would query is that it should cost thousands more. I would agree with your lawyer a percentage fee of monies returned to you. In this way your costs dont escalate out of proportion to your deposit returned. Look for around 3-5%. Anything more is excessive

Hi all,

Does anyone know if the option of  'no win-no fee' is available in Spain.

We are hoping to suggest this to our legal team and were wondering if it is a concept they will understand.

As far as i am concerned, if they will not accept this offer then it does not say a lot for their confidence of getting my money back!!!

I like many do not wish to keep throwing good money after bad if there is really no light at the end of the tunnel so feel this is our only option now.

Vic

Spain does not recognise the 'no win-no fee' scenario, what they will take you down is the stage payment route, 3 stages on representation to the courts, basically, the cost to prepare the case, the cost to submit the case, and subsiquent charges...in short, all upfront payment, nothing at the back-end at all. Appalling.

Hi Vic

What do you mean by your legal team mate?  The legal people in Spain have a set table of fees, which seem to apply to standard procedure like bankruptvy, admininstration, debt chasing etc.

Im surprised you dont have this table of fees......i think mine was called the 'Alicante school fees' or something like that....you can then know what you have to pay each step along the route.

Ask them and you should get that info.........and give em a b**ock*g that you dont have it already.....

(its not that sarc lawyer again is it?)