Lawsuit by Polaris against those who did not complete

I did not complete on my apartment on Terrazas because I had a heart attack and now no one will give me a mortgage or arrange life assurance as the banks insist on.  Now I am told by my solicitor that Polaris has filed a lawsuit against me and may well persue me for the balance of money by filing to take my home in the UK.   Has this happened to anyone else?  Has anyone successfully fought off this attempt to confiscate their home in the UK?

We are in a similar position to you.  When we put our deposit on a two bed apartment in 2006 we were both working full-time.  Thanks to the delays in getting planning permission, etc and Polaris refusing to communicate with us we eventually had to get a Solicitor but it has taken so long to get to the point of trying to take them to Court that our circumstances have changed in that neither of us are working now and had to take retirement and while all the legal wranging has been going on our apartment has now been built.  Problem is our 'Pre-trial' has not gone too well and the Judge has ruled it cannot go to Trial and he will make a decision about what is to happen but our Solicitor is not very optimistic.  I gather from various forums that our site is still incomplete and parts like a building site.  Would be grateful if someone could tell us exactly what is going on on that site.  If we are forced to go ahead with the sale don't know where we would get our money from and it appears that in 2006 the price of the apartment was 165,850 euros but I have seen similar for sale for 79,950 euros.  I have heard that the Town Centre has not been built and that there is only a supermarket.   Has the golf course been completed or any other buildings?  If we sell our house here in UK (which will be difficult) and move out to the Spanish flat, what is life like now on the site?  Any feedback or advice would be so much appreciated. 

Alimo

Phase 1 is complete. Yet well over 60% of the apts have still not been occupied. Out of 800 plus apts on phase 1. A single company owns over 25% of them.

Phase 2 would say is 75% complete. People stating to complete on them

Las islas. Couple of blocks complete and some are now being inhabited.

Town centre has been built, but not all units have been completed. We have a supermarket in the town centre. A bar/restaurant that is complete, Yet has only opened for a few days since it has been ready in May. This is supposidly open shortly.

The hacienda is about 50% complete

Golf course is open. But with having no real facilities. It is not used very much.

From the original model that we purchased off. The ecomonmic crisis a PW poor management, it  has fallen well short of expectations. However, having said that I do not regret my purchase.  We have fantastic neighbours and look forward to every visit to the complex.

See pictures on this website for a better representation of what is going on.

Best of luck