Possible Good news re: CAM Bank

As a consequence of Legal advice received only yesterday I am advised that indeed CAM Bank's position as a "secured creditor" would almost certainly be overturned by whoever ends up as Administrator over the affairs of a bankrupt Trampolin Solera / Grupo Trampolin. As I always felt ... those of us who hold a VALID CONTRACT (sorry Mr and Mrs Philips ... you do not) dated PRIOR to the granting of the Mortgage in 2007 ... will hold "prior rights" to any Mortgage which was fraudulently obtained. CAM Bank were clearly negligent in (a) carrying out their own "Due Diligence" and (b) in advancing such large sums of money against properties without Building Licences. My understanding is that CAM Bank are both aware of and concerned by this possibility since IF this proves to be the case then the Bank will simply line up AFTER the contract holders as "unsecured creditors".

In my own case Rafael has, I understand, already accepted that he is guilty in my case and whilst having been given the opportunity to rectify the situation has simply failed to do so. The hearing for the Criminal charge of "Fraud " ... a "Querrela" ... is before the Courts on May 14th. I would hope that by now ... for those of you on site who witnessed the removal of the last of their cars this week ... will now appreciate that indeed EVERYTHING I have been saying for months is in fact true. The only thing that has saved the "3 thieves" this long has been the speed of the Spanish Legal System.

Andrew

 Your information on this issue, if accurate, is great news for those residents with outstanding builder’s mortgages on their property and must be a great relief.  However, I have spoken to some owners in this category and they seem to be getting mixed messages from their lawyers who are ignoring the issue of whether the mortgages were taken out pre or post contract.  The lawyers take the very simple unambiguous view that the bank granted mortgages to the legal owner of the properties and that this was perfectly in order.  Why do you think your lawyer takes a different view?  

I suppose the owners with mortgages will have to wait for bankruptcy proceedings before they get an unambiguous answer to this conundrum of whether the bank is the main secured creditor or not.  Commonsense tells us that the bank must be negligent for granting mortgages to properties that were already sold under contract but the law and commonsense don’t always fit well together.

Grover

Hi Grover ... I agree that the whole situation is very confusing. I say this having only yesterday been at the "Palace of Justice" in Murcia for the purpose of commencing Criminal proceedings against Trampolin and Rafael. I have been in touch with CAM Bank on the subject and I suppose understandably they are very cautious. One little "gem" did come out of the Hearing ... Trampolin's / Rafael's / Antonio's Lawyers have wriiten to every Court in the area washing their hands of the "three thieves" and their company. If I gain any positive information I will place a further post on the Forum. Right now the situation for Rafael looks very bleak since a criminal conviction WILL result in a Prison sentence. Kind regards Andrew