BANK GUARANTEE PETITION

BANK GUARANTEES IN SPAIN

PETITION

www.bankguaranteesinspain.com

Thousands of Off-Plan purchasers in Spain were not provided with the legally required Bank Guarantees and in many cases where Bank Guarantees were issued the Banks & Savings Banks are now refusing to honour them.

Off-Plan purchasers are the innocent victims in a trail of lies, deception, negligence, lack of due diligence and complete lack of control within the real estate sector.

Many purchasers have been forced to take expensive and lengthy litigation proceedings in an effort to have their inalienable rights which are granted by LEY 57/68 upheld.

In a direct response to these abuses, we have now launched a PETITION for purchasers of Spanish Off-Plan Property who are currently suffering or have suffered ANY type of Bank Guarantee abuse.

The main aims of the PETITION which is primarily addressed to Spanish President, Mr José Luis Rodríguez Zapatero and the Governor of the Banco de España, Mr Miguel Ángel Fernández Ordoñez are:

• To expose the negligent actions of all those involved including the Banks & Savings Banks

• To highlight the unacceptable delays innocent purchasers are unnecessarily being subjected to in the courts

• To force accountability and demand justice

• To ensure change for the future

The ultimate responsibility lies with Mr Zapatero and the Banco de España for their failure to adequately and effectively supervise the Banks & Savings Banks who are the guardians of LEY 57/68 and who were the 'vehicle' through which the illegalities were allowed to operate.

This is a serious public order matter and our petition demands that the Banco de España and Spanish Government act immediately to ensure that:

• Any purchaser not provided with the legally required Bank Guarantee is   
refunded immediately in accordance with LEY 57/68

• Any purchaser in possession of a Bank Guarantee, where the developer has
clearly defaulted on the contract, is able to execute the Bank Guarantee, in accordance with LEY 57/68, without the need for litigation

• 'Fast Track' specialised courts be established

• The Spanish Government and Banco de España must immediately set up a fund to underwrite the refunds on all Bank Guarantee cases

• The Spanish Government and Banco de España must act now to ensure the abuse being suffered by innocent off-plan purchasers in Spain is ended immediately and that it is never allowed to happen again.

If the Banco de España and Spanish Government fail to act within defined timescales on the above issues then we ask the European Parliament and European Commission to take firm and effective action demanding that these very serious financial illegalities be addressed as a matter of extreme urgency.

This is the most extensive Bank Guarantee petition ever undertaken and it is essential that we gather as much information as possible to ensure we are able to present a comprehensive dossier of evidence and a complete account as to the scale of abuse suffered by innocent purchasers.

Please go to the Bank Guarantees in Spain website and add your voice to this very important PETITION:

www.bankguaranteesinspain.com

Hi Keith

Thanks.

Not sure what good it will do, but, it's worth a try.......let's face it.....we've got nothing to lose now, have we ??

Have just completed my addition to the petition.

I suggest as many of us as possible do the same.

Regards

Barry & Sue

I too have completed and posted it and have also sent the info onto another group of people in our situation in case they missed it on the thread.

Doing something is better than doing nothing.................. so let's hope.

Chins up

Kay

We too have just postedd the petition, anything helps I guess

Jarmany2

Hi Keith110???

I'm very concerned that you are asking for a lot of information and personal details on your PETITION database. There are a lot of "scams" about and villains on the web and I'm all for joining a genuine petition but I am not prepared to give out to any tom, dick on harry my personal details and information about my contract with a builder, bank, lawyer or estate agent and especially to someone I have never meet.

All I will say is....."Buyers beware!

Hi Roy

I understand what you say.  There are a lot of scams out there, but I can assure you that the Bank Guarantees in Spain PETITION is not one of them.

The reason we are asking for so many details is that we want the petition to be more than just a list of names.  We want hard evidence and figures to back up the petition when it is submitted to the relevant authorities.

However, you do have the option to support the petition by just including your name and email address or by answering only selected questions.  The questions are not compulsory.

I am not any tom, dick or harry.  I am a victim of Bank Guarantee abuse and I am leading the FINCA PARCS ACTION GROUP in legal action against the developer of the Finca Parcs project - Cleyton GES SL and the funding bank of the development - CAM Bank.

You can read more about our action here:  www.fincaparcsactiongroup.com

The Bank Guarantees in Spain Petition was designed by myself with help from Ruth Genda, who organised the first Bank Guarantees petition around 18 months ago.  I was also assisted by Anne, who posts on Eye on Spain as 'ads'.  You can read more about the petition in this thread:

http://www.eyeonspain.com/forums/posts-long-11316.aspx

My work on the Bank Guarantees website and petition was checked by Maria de Castro from Costa Luz Lawyers.  Maria supports the petition, however she does not and will not have any access to data submitted.

There is no commercial intent to the petition and I am certainly not trying to rip anyone off.

In fact over the past 4 years all my time in researching LEY 57/68, designing the website, compiling the questions and monitoring and collating the information submitted is on a VOLUNTARY basis.

I have taken this initiative because like many others, my money is at risk and I am not prepared to sit back, do nothing and allow the developer and bank to effectively 'steal' my money and give me nothing in return.

Kind regards

Keith

Hi Ruth & Keith

First of all it was not my intention to insult you personally or degrade your petition, after all I'm all for genuine and positive action and the "Tom, Dick or Harry" statement was just a figure of speach on my part. As I said in my original statement I was concerned the petition was asking for far too much personal information for my liking and having worked in the I.T. industry for 30 years, I felt it was my right to warn people to be cautious. I wish you good luck with your petition and hope it has a positive outcome for all. Once again, if I have offended anyone then I apologise!

Roy

Hi Roy

Thanks for your reply.  Apology accepted.

It is a huge battle against the corrupt developers and negligent banks, lawyers and estate agents.

However, we are genuine and I sincerely hope that together with all other the other petitions, court cases and media coverage we can go some way to making a difference and helping towards a positive outcome for all concerned.

Kind regards

Keith