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http://live.kyero.com/2009/12/28/polaris-world-given-bankruptcy-protection/
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Also here
http://www.simplynetworking.es/news-1926-31-polaris_world_seeks_court_protection_from_debtors.html
Not good news for the local banks or economy for that matter.
If the Insolvency proceedings are approved and you were not given a Bank Guarantee for the securing of your money, I would certainly start issuing a claim against the Bank which did not meet obligations under Law 57/68 for compensation of damages.
Maria L. de Castro, JD, MA
Lawyer
Director www.costaluzlawyers.es
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