Can anyone help me??????

Hi my name is catherine. Back in 2006 my mother put a large amout of money down on property here. I have been told by a Spanish solicitor that nothing can be done at the moment to retrieve the money. My mother is very sick and now has no money because of this situation. I really dont know what to do as I do not understand all of this. Im really worried about my mum and just want to know what I can do.

Please help...!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Hi Catherine

Have sent you a private messgae

Regards

Vic

get a good spainish lawer, if you mother has got bank gauratees, she is in abetter position,if not she has little chance of a refund,as huma the builder is a conman who will not give refunds for the homes he never built.

First of all get all the documents your mother has together

And I assume that you are not just referring to the initial 3000€ reservation fee, as if you are that was a non- refundable reservation  payment-it is the 40% or more payments which may be subject to a bank guarantee

She would not have paid the money to Huma Med in 2006 as the development stopped circa November 2005

If your Mother paid her deposit early 2005 there is a good chance she had a bank guarantee and that is important

If you have a Bank guarantee or a record of it, then you will probably get all your mother’s money back plus interest if you use a good lawyer

Some say that you need the original BG but that is not necessary in Spanish Law [so I am advised but it does make it more difficult]

As in UK Spanish lawyers charge you legal fees, so to recover your Mother’s deposit  you will have to pay some legal fees up front

If you have all the documents and a BG then circa 2000 €

And you will have to go over to Spain to start the recovery , which does of course cost

I am a property dealer and I do not have a BG but have started legal action for recovery of my 54k€ deposit

And I do expect that ‘in due course’ for reasons already posted on EOS to get a ‘ recovery’

Not a nice situation for your Mother and yourself  but the ACC buyers issue has to be sorted out, which means repaying deposits, before the owners and banks who control everything, can deal with the site after the recession ends!   

One thing no one has ever answered to my satisafaction....

As far as I understand - when we take Civil Action & win - we have cancelled our contracts with Huma Med for ACC. What do you understand???

Our original contracts show only a fictional position on a plot map and therefore if the land development was illegal - we can have no claim on the site itself and we will not be registered as owners of that plot of land at the Land Registry - as we have not purchased it. Our only claim currently can be against Huma Med itself.

If this site was reclassified and redeveloped - I am not clear if the plot map is different we can reclaim our interest. I realise if Huma Med are allowed to restart by the Banks & Junta (which may be unlikely or many many years ahead)  - we could embargo assets on Huma Med on the new site to prevent sales. As far as I know Huma do not own the land for ACC and so effectively could another Huma company or someone else (backed by the Banks) come in and develope ACC under a new agreement? This leave us with no possibility to block or embargo any assets on site - should Huma Med not be the developer?

Therefore - our only claim is against Huma Med - who effectively own little assets. Huma does have other interests - but I do not know if Huma Med own shareholdings in other Huma concerns that have value. The solicitors seem to believe there are no assets of value in Huma Med currently.

Unless Huma Med restart ACC - I cannot see we are in a good position to block resale of units there.

I would be interested to hear replies and views.

Here we are END OF 2011 still fighting after 6 & a bit years!!!  I cannot see an easy resolution for those with no BG's.

Has any client progressed anything with lawyers taking Banks to court over non issuing of BG's????

Generic bank guarantees are I think the key

Which basically means that Huma had an agreement with banks to issue individual BG’s, on receipt by the bank of the deposits of purchasers, but they did not issue them

So the banks are in breach of the law and their duty under the law to ring fence the money they received, hence the banks have a duty and responsibility to the depositors

This is a big liability for Spanish banks and they have probably already made a provision for these bad debts  their liability to pay in due course] although not perhaps to the full extent

For the Bank of Spain to sort out their potentially insolvent Cajas, this is one issue amongst others which has to be dealt with

But it all takes time as we have just seen with the miss selling by HSBC which has been in the UK press recently

And as you have probably seen from posts on EOS the Spanish Courts are now starting to make decisions in the depositors favour…..Spanish buyers not just English

Whilst buyers at ACC and OTCC do not have registered titles over their plots, I am told that we have contractual rights and that any future purchaser and developer will want a ‘clean situation’ to take over the sites

I also understand that this could be ‘ cleaned up’  by Huma Group going into liquidation and then the sites etc are repossessed and sold off at auction- a bit more complicated in reality but a simplistic approach of the downside risk

The banks have supported the Huma Group all along and banks only do that if they have a their own  interest to protect!

Yes it will be a long haul made worse by the recession and worsened even more now by the euro crisis

From recent reports it may even be that all these bad property loans and liabilities will be put in a ‘Bad Bank’ run by the Bank of Spain…we shall see

As a dealer I have written off my deposit but still have an expectation of a recovery in due course  

we have 38.000 deposit being held/stolen by huma, we were never given the promised BGs, our lawyers M Davies of mojacar won our case at court,  huma refused to pay, the court did nothing to force them to, davies found a assett at at MCC free from charges and had an embargo placed in my name, the property will be put up for auction in 2012 if huma dont refund, it has cost 5k in fees to get this far.

i will keep buyers upto date on how Davies Co are doing with our case,  we dont want buyers wasting more money chasing the conmen at huma,  as the courts are no help at all.

  if it was brits who owed huma and the banks money would they be so lax,  no chance we would have all been repossesed,  thank god we dont have to live in the same country as these conmen.