Hi everybody,
hope you enjoyed the Easter break.
Over the break some buyers have posted me information that their former solicitors got from San Jose, but it was not considered relevant. And some new interesting details about the generic guarantees have been released.
1.- The SGR generic guarantee was signed before August 2005 (before contracts with buyers were singed). So SGR excuse can't be that they did not provide guarantees for deposits paid before they signed the generic policy with San Jose & Herrada.
2.- € 1,500,000 from the 6,5 millions maximum amount covered by SGR have not been used yet (learnt from a representative of San Jose over the phone).
3.- BBVA and CAM Bank also singed with San Jose and Herrada generic guarantees. BBVA provided individual guarantees to buyers of Herrada who paid on the account shown on purchase contracts (01822980330201522159). This probably means that this is an special account, so Bank shouldn't have allow the developer to withdraw funds for purposes different than building, and should have issued the bank guarantee for every buyer.
I am sure that the Preliminary Enquire will release more interesting details.
Regards,
Guadalupe Sánchez. Lawyer
GM LEGAL EXPERTS