AIFOS Bank Guarentees

Hi Everyone,

I am in the process of trying to get back the deposits paid to AIFOS for my Hippodromo apartment, from the bank that issued the guarantees.

As with any case the more information I can get regarding these guarentees would be helpful, My Lawyers in Spain have made the following request:

We know AIFOS provided individual bank guarantees to some specific British buyers who bought in this promotion (at least 5). These individual banks guarantees were provided thanks to that general bank guarantee. So, it is now my job to investigate when these buyers who got those individual guarantees signed the purchase contracts with AIFOS. If we could prove they signed and paid to AIFOS at the time yours (more or less) then it would be better. Do you know anyone who bought in the same promotion yours and later got individual bank guarantees from Aifos?.

If anyone on the forum had one of these individual guarentees, could they contact me privately so that I can provide this information to my Lawyers.

Thanks for your possible help with this!! 

Not directly applicable to your query but it may help?

We too put down a deposit on the Hipodromo development in 2002.

Our solicitor took action against the bank over two years ago on the basis that the bank should have issued guarantees and held the funds in an escrow account. We didn’t receive an individual guarantee, but won our case in the first court, won the appeal and heard today that the Supreme Court has also found in our favour. Our case is finally, 100% WON!!!!!

Last year the court awarded us an interim payment of all of our deposits and now we await the calculation of interest and costs due to us.

Your lawyer may be interested in knowing that we have won without an individual guarantee?

Hi! I hope you find the information you need to recover your deposits. It’s like solving a puzzle - almost as intriguing as taking the best free iq test to sharpen our minds while we navigate these challenges!