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Residencial Santa Ana del Monte forum threads
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15 May 2008 10:38 AM by briando55 Star rating in Yorkshire. 1982 forum posts Send private message

Hi Justin

Thanks for the posting but you seem to advocate not rushing into anything, and then outlining the 'high level' action a company is taking on behalf of their clients.  You then suggest that others can join in if they wish.

To be honest it dosnt sound like any advice at all.  The overall situation is extremely bleak and in my experience doing nothing isnt an option at times like this.

I have written to the British Embassy to ask advice concerning the legality of the license, commercial and financial arrangements of San Jose's, ie how can this happen in a respectable country.  I also queried the role of the underpinning finance to SJ and if this was secured on any assets that turned out to be not secure etc.  Also the role of the local regional councils/governers and the intimation of awarding a license to the builder, when this was perhaps never going to happen.

There are many poorly managed factors to this collapse and my guess is this will affect Spanish Construction in future, so will be a long term problem for constructors.  Does anyone have a clue about the extent of the problem with San Jose, how much misery and how many properties are involved, any guess at a financial total?

Brian



_______________________

Best wishes, Brian

 



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15 May 2008 10:58 AM by Margaret and Charlie Star rating in Scotland. 34 forum posts Send private message

Hi all

Is there anybody can hlep me with this query.  Can you tell me when Bank Guarantees became a legal commitment month/year

Margaret




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15 May 2008 11:15 AM by Linda Needham Star rating in Jumilla,Spain. 302 forum posts Send private message

Linda Needham´s avatar
Hi margaret
Try asking Maria DeCastro.  There is a link in one of Justins posts further down which says San Jose Liquidation

_______________________

Linda Needham
La Alberquilla
Jumilla, Murcia


R4 308 For Rental



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15 May 2008 11:57 AM by redman Star rating. 235 forum posts Send private message

Margaret,

I believe the bank guarantee was part of the Consumer act of 1968 under Franco's government.  Couldn't tell you which month though.

Regards,

Steve.




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15 May 2008 12:11 PM by Abolex Star rating in Andalucia - Murcia -.... 136 forum posts Send private message

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Bank guarantees for buyers of homes are regulated in the following Laws:

Law 57/1968 of 27th of July

Law 38/1999 of 5th of November

Regards



_______________________
Martin de La Herran Sabick Abogado / Lawyer (reg. 851 Jerez) www.abolex.es


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15 May 2008 12:25 PM by FINCA2009 Star rating. 31 forum posts Send private message

martin - So how did san jose get away with not offering for all purchases made 2004 onwards?


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15 May 2008 1:05 PM by Abolex Star rating in Andalucia - Murcia -.... 136 forum posts Send private message

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One thing is what they are supposed to do and another what they actually do.

Unfortunately this only works as a right the client has to ask for this guarantee when the contract is to be signed. No guarantee, no transfer of funds.

Regards



_______________________
Martin de La Herran Sabick Abogado / Lawyer (reg. 851 Jerez) www.abolex.es


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15 May 2008 1:17 PM by Abolex Star rating in Andalucia - Murcia -.... 136 forum posts Send private message

Abolex´s avatar
 Hi all,

The situation of many of you is that you have a contract to buy a property on a certain complex with a completion date and this site has never been completed on time. By Law, you have the right to claim San Jose in order to recover your deposit, fees incurred and interest; but only after you have a Sentence saying so (which could take a year) you would have a credit to take part in the bankruptcy.

Nevertheless, the Law gives an opportunity to take part in the process without having a credit yet. This is what is called “litigation credit” and basically means that you file your claim in the same Court that is already looking into the bankruptcy process. The same Court will decide for both cases (claim against funds -Case 1- and bankruptcy of the company -Case 2-) so therefore you will be fully protected.

As an example, I have calculated the Legal Fees according to the Minimum Official fees Of the Law School of Alicante based on a claim of 46.800 Euros that someone paid as a deposit for a never completed house:

1. Case 1: Claim against developer to recover deposit, interest and legal fees: 5.464 Euros. These fees may be recovered and can be reduced 50% if San Jose agrees to the claim (i.e. they don't fight) which is very usual.

2. Case 2: Take part on the bankruptcy process: 1.366 Euros.

Please note this are the Official fees obtained from the Book of Fees from the Alicante Law School.

Regards

1. For the Court claim against San Jose asking for 46.800 Euros (Rules 49, 89.c and 90.h.3) the total fees are of 5.464 Euros plus IVA.

2. For taking part on the bankruptcy (Rule 89.a) the total fees are 1.366 Euros plus IVA.



_______________________
Martin de La Herran Sabick Abogado / Lawyer (reg. 851 Jerez) www.abolex.es


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15 May 2008 1:31 PM by cockrell Star rating. 3 forum posts Send private message

Martin

When my agent asked for a bank guarantee back in October 2005, they were told we would have to go to the  Notary pay the fee then pay further fees to the bank monthly. They did offer us a letter which when translated stated that the company was in a stable financial situation to complete the build. So i guess that was their answer to a bank guarantee.

 

Steve. 




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15 May 2008 1:56 PM by arnoldg Star rating. 49 forum posts Send private message

 

Hi,

Please could someone tell me if our lawyers were negligent by releasing our deposit (not the reservation fee) before having sight of our bank guarantee?

Thanks,

 

Gary Arnold

 




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15 May 2008 3:27 PM by Margaret and Charlie Star rating in Scotland. 34 forum posts Send private message

Hi all

As it is obviously a legal requirement to have a Bank Guarantee with any monies passed to a builder through Solicitors PSI have been negligent and obvioiusly are in mal practice of this requirement in not informing me on or indeed doing this normally.  We are paying our fees to the Solicitor (PSI) and if they did not tell us or give us a Bank Guarantee after all we are not all up on the Law and put our trust in them that is the reason we went through these Solicitors thinking everything was legal.  Obviously it was not and I think a joint action against PSI for mal practice would be advisable.  Because PSI must have insurance against this sort of thing.  Obviously we will wait to see what happens with the jjudge tomorrow but if I do loose money I want to take PSI to court to get back my  money plus interest because they are obviously negligent. 

 

Margaret




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15 May 2008 5:27 PM by Abolex Star rating in Andalucia - Murcia -.... 136 forum posts Send private message

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Cockrell

That is NOT a bank guarantee. What an abuse to say such a thing!

The only reason why they did not provide a bank guarantee is that no bank in sanity would ever guarantee the smoke!!!

Regards



_______________________
Martin de La Herran Sabick Abogado / Lawyer (reg. 851 Jerez) www.abolex.es


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15 May 2008 5:39 PM by arnoldg Star rating. 49 forum posts Send private message

Martin de La Herran Sabick

Please comment on mine and Margarets comment about our lawyers possible negligence and if we might have some legal recourse

Thanks

Gary




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15 May 2008 7:51 PM by Abolex Star rating in Andalucia - Murcia -.... 136 forum posts Send private message

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Arnoldg and Margaret

Yes, a Lawyer that allows its client to sign a purchase contract without warning of the lack of bank guarantee is obviously negligent, and yes we (the Lawyers) can be sued for negligence, and this is the reason why all Law Schools have for their members an insurance to cover these things.

Obviously, it would need to go to Court.

By the way, for those that know Spanish and want to know what are the official fees I often refer about, you can download the Book of Lawyers Professional Fees for Comunidad Valenciana (Alicante, Valencia & Castellon) in the following link: http://www.icaorihuela.com/docs/BAREMO%20DE%20HONORARIOS%202008n.pdf

Cheers



_______________________
Martin de La Herran Sabick Abogado / Lawyer (reg. 851 Jerez) www.abolex.es


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15 May 2008 8:20 PM by arnoldg Star rating. 49 forum posts Send private message

Martin,

Many thanks, I thought that might be the case, so if we do lose our deposit in theory we could take our lawyer to court!

My firm is also based in London, so I wonder if I could take them to court in the UK?

Gary




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15 May 2008 8:33 PM by victheviking Star rating in Rossendale, Lancashi.... 57 forum posts Send private message

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Just received this email from Pilar at San Jose,

For those of us that do not speak fluent Spanish, keep scrolling down as the English version is below the Spanish.

Hope this helps

Vicki

NOTA INFORMATIVA

 

Orihuela, 15 de mayo del 2.008

Las empresas San José Inversiones y Proyectos Urbanísticos S.A. y

Herrada del Tollo S.L., han presentado solicitud de Concurso Voluntario de

Acreedores ante el Juzgado Mercantil de Alicante, el pasado viernes (9-05-

2008).

El propósito de este procedimiento es:

a. Proteger los activos de ambas empresas.

b. Proteger el dinero de los clientes.

c. Asegurar la continuación de los proyectos (Residencial El Pinet y

Residencial Santa Ana del Monte, Jumilla Golf).

El concurso de acreedores ha sido requerido para asegurar la continuación

de la actividad de estas empresas y sus proyectos. La restrinción de las líneas

de financiación producida por la crisis financiera y su efecto en el sector de la

construcción, ha afectado nuestro flujo de caja que ha repercutido en el

progreso de estos 2 proyectos.

Como consecuencia, se ha considerado el concurso voluntario de

acreedores como la mejor alternativa financiera para superar la situación

presente y garantizar el futuro de ambas sociedades.

Ambas empresas pueden confirmar que todos los anticipos efectuados por

los clientes, están completamente reconocidos por los juzgados, por lo tanto,

cada cliente adquiere la condición de acreedor y está protegido por la ley.

La administración concursal efectuará una comunicación individualizada a

cada uno de los acreedores (clientes) con la finalidad de que contrasten el

importe de sus anticipos en la lista de acreedores.

La Dirección de San José expresa las más profundas disculpas por

cualquier inconveniente que ésta medida ha podido causar y le informa que

continuamos trabajando para encontrar la mejor solución lo antes posible.

Seguiremos informando de todo lo que acontece en el progreso de este

procedimiento y de cualquier cambio que pueda surgir en el planteamiento de

los proyectos.

 

La Dirección

San José Inversiones y Proyectos Urbanísticos S.A.

Herrada del Tollo S.L.

 

INFORMATION NOTE

 

Orihuela, 15

The companies

and Herrada del Tollo S.L

proceedings before the Mercantile Court of Alicante, last Friday (9-05-2008).

The purpose of this procedure is to:

d. Protect the assets of San Jose.

e. Protect the clients’ deposits.

f. To ensure the continuation of the Projects (El Pinet and Santa Ana del

Monte)

The above action was required to ensure that we the company are able to

continue with these two ongoing projects. The well reported “credit crunch” in

the finance industry and its effect on the construction business has affected our

cash flow which has restricted progress on these two projects.

As a consequence Voluntary Administration proceedings were considered

as the best financial alternative to overcome the present situation and

guarantee the future of both companies.

Both Companies can confirm that the down payments paid by each client

are fully recognised by the courts; they acquire the conditions of creditor and

are protected under the law. The court will send a personal communication to

each client in order to confirm the down payments made.

The board of directors of San Jose convey their deepest apologies for any

inconvenience which this action might have caused and will continue to work

with all parties to reach a solution as soon as possible.

We will be informing all concerned how the procedure progresses and any

subsequent changes to the schedule for the projects.

 

The Board of Directors

San José Inversiones y Proyectos Urbanísticos S.A.

Herrada del Tollo S.L.

th of May, 2008San José Inversiones y Proyectos Urbanísticos S.A.have applied for Voluntary Administration


_______________________
Vicki


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15 May 2008 11:53 PM by Abolex Star rating in Andalucia - Murcia -.... 136 forum posts Send private message

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Typical letter Regards

_______________________
Martin de La Herran Sabick Abogado / Lawyer (reg. 851 Jerez) www.abolex.es


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16 May 2008 7:23 AM by willyboy Star rating. 19 forum posts Send private message

Don't  take this the wrong way but why are experienced professional lawyers posting and looking for business on forums such as these. Surely big successful commercial companies which are known for their results do not need to?


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16 May 2008 7:37 AM by barry210357 Star rating in Burntwood, Staffs.. 111 forum posts Send private message

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LEGAL ADVICE PLEASE

So.....if we paid our initial 50% deposit to Ambasun International S.L. our agents, ( not Lawyers ), who then forwarded onto San Jose, ( Herrada Del Torro S.L. ), is our agent then at fault also, for mis-guiding, mis-informing, ( call it what you will ? ), and can they have legal action taken against them  ?



_______________________
Baz & Sue R10 - 36


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16 May 2008 7:47 AM by Abolex Star rating in Andalucia - Murcia -.... 136 forum posts Send private message

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Williboy Easy to answer: because we try to help and we can because we know what we are talking about. Aren't forums precisely to help others? My question would be: what interest is behind someone who, not being a professional and not knowing a clue about bankruptcies, is trying desperately to get business from forums like these? Please don't insult people that can be helpful. Believe it or not, our aim here is not business. Regards

_______________________
Martin de La Herran Sabick Abogado / Lawyer (reg. 851 Jerez) www.abolex.es


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