BBVA CHANGE OF THEIR LEGAL STRATEGY. NOW RECOGNIZING THE LIABILITY AND PAYING. SANTA ANA (HERRADA)

We want to share with you a part of an article we have published, as on the last claim we presented for a buyer off plan, the BBVA has accepted their liability and paid, in case is any of interest of somebody.

Best regards

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Our latest success has been in respect of claims on behalf of those who purchased in the residential area of Santa Ana del Monte, promoted by the developer Herrada Del Tollo Sl, which became insolvent.

Happily we are successfully recovering money paid by our clients through the court action against the BBVA Bank and the Sociedad De Garantía Reciproca De La Comunidad Valenciana (SGR), as shown by the recent Court Decision Order issued by the court of first instance nº 5 of Alicante, in the court process 686/2017, after recognition of its responsibility by BBVA.

The SGR and BBVA are responsible for returning the money paid to this developer, because they granted general policies to guarantee the money paid by buyers off plan in this complex, in accordance with law 57/68.

Even if they did not give individual guarantees to the purchasers, as the Supreme Court has repeatedly stated, for example in its judgment number 322/2015, although they have not issued individual guarantees, the entities, in this case BBVA and the SGR, must pay back the deposits paid by the purchasers, with interest, in accordance with the general bank guarantee granted.

In the same vein other Supreme Court Decisions can be found, like the Orders of 15/6/2016, of 9/21/2016, sentence number 626/2016, etc.

In addition, those affected in Santa Ana del Monte usually paid their deposits and partial payments of the price into the bank account that the developer, Herrada del Tollo SL, held with BBVA, which means that in these cases BBVA has a double responsibility for paying back the deposit and money paid, as:

1) BBVA granted a general policy as indicated above

2) In accordance with the law 57/68, article 1, second condition, the bank must make sure before opening  the special account to receive these funds that the deposits paid by the buyers were properly guaranteed as required by  law.

Therefore, if you have lost money in the purchase of a property off plan, in the complex of Santa Ana del Monte (due to be built by Herrada del Tollo) or any other development in Spain, contact us and we will help you.

We are experts who will only charge you if you win, once payment is made and generally our expenses will be paid by the other party, so it is possible for you to recover all of the money paid together with interest.

The information provided in this article is not intended to be legal advice, but merely conveys general information related to legal issues.

Carlos Baos (Lawyer)

White & Baos Lawyers Spain

This is for the white brothers who have just come onto this foram looking for business.never heard of you until now,where were you 12years ago?can you tell me how can the banks appeal so many times?when they lose the first appeal,isn't an appeal normally only once or is it like a child the longer you cry,you will get your own way.

What you have said this year2017 we've been paying Spanish solicitors thousands of pounds for years for nothing until we came a cross Guadalupe,GM Legal who has done more in 2years for me than my first solicitor did 12years ago at a loss less cost.