Herrada del Tollo applies for liquidation at Mercantile Court

The last I heard is as below, does anyone know any more ?

23 January 2015

Dear Creditor,

Jose Antonio Martinez Martinez, your litigation solicitor has asked me to
update you on the following matters:

1º.  The legal administration for the liquidation process of the assets of
Herrada del Tollo have acknowledged 100% of the credit amount per creditor,
no longer just recognizing 65% of the credit.

2º.-We are waiting for the liquidation to start obtaining cash from all the
properties and assets sold in order to see when they are going to be able to
start the payment back to the creditors. This moment in time we don’t have
that information yet.

We will further update you when we have further information.
 

Previously, solicitors have been attempting to recover lost money from the building companies as they thought according to Spanish law that trying to claim money from the bank would be unsuccessful if the client ( creditors) did not get a bank guarantee. Bank guarantees were seen as essential to have a chance to recover lost deposits.

However new judgements formed as recently as January 2015 have shown that the judiciary in Spain are firmly on the side of the creditor in such cases, even where they have not been provided with a bank guarantee. This is because the bank where the money was paid into, would be criminally liable under Act 57/68 if they failed to provide a bank guarantee to protect the creditor against losing their money. This means that many more people can take action against the bank itself rather than trying to chase the builders who have already declared bankruptcy, resulting in a more efficient and satisfying outcome.

If you are a creditor who has lost their deposit in HERRADA DEL TOLLO, you have a chance to claim your deposit back through taking legal action against the bank. Alonso and Haro Solicitors have been successful claiming deposits on behalf on several clients who did not get a bank guarantee. We are one of the few firms who do not require upfront payment for legal fees, instead we receive our payment from the interest on your deposit. As we do not paid upfront for our work, this unifies our interests with the creditors’- when your money is safely returned to you, we get paid. This promotes a good work ethic and a reassurance that you and your investment are being best looked after.

Well, bobmich, actually you shouldn't have much hope on recovering your money from the liquidation of Herrada del Tollo.

The best, and for now the only trustable (unless you have a Bank Guarantee), way to recover your money is suing the bank you paid the money into to Herrada del Tollo (could be BBVA or Banco Pastor, who also has generic BGs agreed with HdT).

Our Firm, as well as many others, is being succesful in recovering deposits of HdT plus interests from BBVA or Banco Pastor.

So, you should instruct a solicitor to take action against the bank instead of waiting for a (hopeless) liquidation

Hi bobmich63

We were told the same thing last year by the same solicitor.  After 6 years we gave him the heave and are now putting our faith in guadalupe.

Joyjo

Hi Joyjo,

Any luck with Guadalupe yet?

bobmich63

Hi bobmich63

Just joined her in november and the case has gone to court. She has had a lot of success so decided to join her class action. Just waiting now to find out whats next.

Joyjo

Hi bobmich63

Just joined her in november and the case has gone to court. She has had a lot of success so decided to join her class action. Just waiting now to find out whats next.

Joyjo

Hi everyone

I was wondering if anyone could give me an update to what our situation might be as we have not recieved any info in 6 month+. Our situation like many others is we bought off plan at Jumilla and have the bank gaurentee for the deposit. We were kept in the loop through email but if im honest i could nt make much sense of what the emails were saying in regard to the possible outcome for ourselves. The last email in april was just found today an older email address and since then i have found this dicussion forum.

I know nobody will be able to give we a clear answer as everones situation might be slightly different,but if anyone could steer me in the right direction as to what to do next that would be fantastic.

We are currenty in Spanish court with a case for another deposit i had put down in spain and that has went to a criminal case and hopefully will be put to bed in the upcoming month and thats been the main focus of the last couple of year as we have been closer to having that deposit returned than the Jumilla deposit.

Any pointers or info from anyone on recomended next steps would be very much appreciated.

Regards

Lee

Hi, leepeacock76,

If you are so lucky that you have a BG, you should claim inmediately the bank to repay you deposit plus interests. I'm sure they will inmediately (perhaps will try to avoid interests payment), but if they don't, then you can execute the BG before Courts in a quite fast process.

If you have not BG, our advise would be also claiming the bank, but this case would be slower (declarative, non executive). These claims against the bank in which you paid the deposits are really succesful.

You should not miss a minute in placing a claim against the bank 

Hi Lucas Asociados

Could you please clarify where you query if Leepeacock76 has a BG, do you mean an individual BG or if there is a Generic BG in existence for the development?

Also I would be extremely grateful if you could answer a question I have posed under the thread titled "Banks liability and precedents for case law. A question for lawyers".

Many thanks.

It seems Leepeacock76 says to have an individual BG. In that case, should execute it.

In any caso, shoudn't have an individual BG, but existing a generic BG or just paid the money into special account, should claim the bank.

I'll try to find your question and answer