Hi Queenbee
Yes there is.
CAM Bank failed in its obligations to issue or to verify the existence of Bank Guarantees on the Finca Parcs development for off-plan deposits totalling in excess of 2.5 million Euros which it knowingly accepted into the 3 Special Accounts.
To make matters worse CAM Bank is now causing issues for some Finca Parcs purchasers who actually have Bank Guarantees.
There are a number of Finca Parcs purchasers for whom CAM Bank is refusing to allow the execution of the Bank Guarantees.
My advice would be to instruct your Lawyer to commence legal procedings against CAM for the full refund of the value of the Bank Guarantee plus interest at the legal rate from the date of the deposit payment until the date of refund plus all legal costs.
With regards to the Finca Parcs project CAM Bank has acted in a negligent manner and with a total lack of professional due diligence. One day they will be made to pay for their actions including their complete lack of transparency.
The only language or process they seem to understand is legal action. It is all so unnecessary - they are fully aware of their obligations with regards to Las Higuericas Finca Parcs, but like all the Spanish Banks and Savings Banks who caused this crisis they seem determined to continue acting contrary to Spanish Law and totally against the consumer.
I am shocked that CAM Bank - under the supervision of Banco de España, can be allowed to act in this manner.
Kind regards
Keith