golf
You ask,
'Do we all have [legal] bank guarantees?'
I think the fact that 'Banco Pastor' : have found someone to complete the project , have put their advertisement board outside the development and have also permitted an advertisement on the 'SMD' website are sufficient assurance/guarantee that they intend to see the development completed. If you are unsure about wether to ask for return of your deposit because of the delays (who could blame you?), then do not be concerned that your money is not safe, because I believe it is.
However, in the present climate of massive over-supply and market stagnation, I predict it will be a long, drawn out and expensive process before your money is returned, and certainly not before the development is completed (who can blame them?).
Following the purchase of 'Sol Mijas Developers' (formerly owned by Majestic Group and another company before them) by Sr. Jose's company 'Grupo Res Capitalia' and my remark regarding their good progress, I cannot understand your reason for the comment,
''Not sure how you can refer to an organisation or individual that blatantly breaks the law as "on the ball".
Surely he is a new broom, and with the help of 'Banco Pastor' will finish the project and we will all benefit. In putting up a website, he has been true to his word and is providing WEEKLY 'photos of their progress. Far more information in just a few months than Majestic or their predecessors supplied in (for me) in two years. His innovation has started a service which could/should become the standard for future foreign purchasers of developments in Southern Spain.
His lack of English is not really a problem because any general queries about the development can be answered by 'Insitu' the company who also advertise on his website and who are selling the remaining properties.Your solicitor should be able to answer queries more specific to your property.
We have all been concerned about the future of our properties which was compounded by the market conditions ( particularly those who bought as an investment), but, even if the properties had been delivered on time (which in Spain seems improbable) , there would then have been the problem of the down turn in the market to address. Some Spanish purchasers/investors have fared far worse than us in the recent conditions,and had we all truly forseen the risks of buying in Spain how many of would have done so?