Later in November 2014 San Jose Inversiones y Proyectos Urbanísticos requested the liquidation of the company, claiming that there are unable to meet the payment scheduled agreed on the meeting of creditors (80% on deposits, within 5 years: 10% on 2015 and 70% on 2016).
The Court has accepted their request, so the company has gone into liquidation, and creditors' agreement is not longer valid.
As you probably already know, San Jose did sign generic bank guarantees with different banks to cover deposits paid for most of their developments (El Pinet, Albatera Golf...). Now that San Jose is being liquidated, our opinion is that the only realistic way to get deposits refunded is to sue Banks. We are aware that many buyers were reluctant to do it because they accepted San Jose's payment proposal. But that's not longer a problem, so we encourage purchasers to seek for advice. In March/April Guadalupe Sánchez is organizing meetings in UK about this matter, so please do not hesitate to contact us if you want to attend one.
This message was last edited by Guadalupe. Lawyer on 09/01/2015.