Bank Guarantee - Case won and money returned - Maria & Costa Luz Lawyers

A big thank you to Maria and her team at Costa Luz for their hard work and efforts in presenting our case to the courts and achieving a successful outcome, we now have our money returned and safely in our UK bank account.

It has been about 2 years of anxiety and stress but finally Costa Luz have won through and delivered on their promise that we had a strong case against the developer.  I won't go into detail but suffice to say that our original lawyers said that we did not have a case and that there was no way we could get our money back.

Am I glad that I stumbled across EOS and read some of Maria's posts, her help and advice to others encouraged me to contact her and discuss our particular problem. I have been critical in previous posts about the the lack of information provided, but I put this down to frustration and now realise that there is a lot of work and effort behind the scenes and that Costa Luz are doing their very best for their clients.  Hopefully in the near future the online updates will be up and running so that others can benefit.

Once again, thanks Maria, Almudena and Steven and everyone else at Cost Luz. 

Kelju

Sorry, just realised I missed Patricia's name off the list and I can't see how to edit the post.

Kelju

 Kelju, might I be quite so bold as to ask you how much you have paid in total in solicitors fees or am I being too nosey..... I think one of the things that puts most people off is that there doesn't seem to be any bench points for fees for this type of litigation and for some unknown reason a lot of people are shy about discussing  'money' but lets face it this is what it is all about. Has anybody else got numbers that they would share with others on this forum?

The reason I ask this is because I recommended what I thought was a good solicitor in the Murcia region and they were quoted 10,000e which equated to about 10%. Needless to say I have not recommended this company again.

Well done again Maria and the team....more good news?

KP,

7,000 Euros up front and then I think a couple of hundred euros to the court for the case to be heard.  I know this is a lot of money but in the scheme of things if you win it is worth it.  I don't know how this compares to UK lawyers but you often hear quotes of £200 per hour, at least with this I knew it was 1 fee.

From paying this amount 2 years ago Costa Luz have not asked for anything else and have submitted the case to the courts twice and defended the appeal by the developer twice.

Hope this helps

Kelju

Kelju

Thank you for sharing your experience with us all at least now some will have a bench mark to go back. One of things that is so frustrating about the Spanish legal system is that very few lawyers will give an example of fees and what work they will do for that fee, most lawyers I have dealt with in the past hate putting things in writing. Many thanks

british lawyers charge a fortune my brother in law spent £35'000 fighting for custody of his son and lost.He is now doing it himself and having her done for purgery as she lied through her teeth in court.

KP, if you won your case, surely your lawyers fees were paid for by the developer (since they lost the case) and the case was effectively cost free to you.

Tish,   I have never had to take a developer to court I was just purely asking how much solicitors are charging nowadays as some people I know have paid small fortunes to their solicitors.

Your question about the lawyers fees fees being recouped from the builders is an interesting one, any lawyers care to comment on this?

OMG!! Apologies KP......clearly my brain was not in gear last night! I should have addressed my post to kelju.

So: KELJU,     if you won your case, surely your lawyers fees were paid for by the developer (since they lost the case) and the case was effectively cost free to you.
 

Kp, in both our own and other peoples cases that have been won, lawyers fees were included in the compensation package, also interest.

 Tish, No problem, it was Saturday night after all and if you hadn't been on the vino, why not???? KP

Not the vino kp! My mind is slowly...no, make that rapidly, being numbed by the b****y football on TV and the horrendous din from those b****y SA "trumpets" !!!!!! 

Hi Tish,

Yes, you are right, now that we have our initial deposit back the case goes back to the courts to claim for costs and legal interest.

I had to pay 7,000 euros up front for the original case to go to court which was 2 years ago.

At present I am still 7,000 euros out of pocket until the judge decides that the costs are to be paid by the bank.

Kelju

 Kelju:

Interests and legal costs have already been awarded to you. Where we are right now in in a little process for the valuation of the same as the deffendant has opposed our proposal.

Kelju:

Interests and legal costs have already been awarded to you. Where we are right now in in a little process for the valuation of the same as the deffendant has opposed our proposal.

Excellent news !  BUT  why do they ALWAYS quibble?? It's enough that you have had all this stress for several years, let alone been "relieved" of your hard earned money for same.
 

Well done Costa Luz Lawyers.

maria

well done indeed for this win. If the developer had gone bust during the two years, where would your client stand?.

I think many are in the position of  having won their case against a developer who has gone bust. If a BG was never provided, who is seen to be at fault the most?, the developer or the bank or both equally? 

Is their any evidence of those who have won cases against developers who have goe bust, successfully then winning their case against the bank for nor providing the BG?

 well done to all...

It seems that the balance of power is finally shifting...............

Answers for Goodstich ( below in bold orange)

 maria

well done indeed for this win. Thanks If the developer had gone bust during the two years, where would your client stand?. We would have followed a double process: defense of our clients´credit witin the insolvency proceedings and request fro liabilities against the Bank, out of provision 1.2 of Law 57/68

I think many are in the position of  having won their case against a developer who has gone bust. If a BG was never provided, who is seen to be at fault the most?, the developer or the bank or both equally? They both are at fault. Under different types or liabilities. Obviously if developer goes bust, the most advised action is to use action 1.2 of Law 57/68 

Is their any evidence of those who have won cases against developers who have goe bust, successfully then winning their case against the bank for nor providing the BG? NOT YET

maria

thanks for the answers. 

It would seem many of us have a good case under law 57/68. Can action be taken against the bank before developer insolvency proceedings have reached a final conclusion, or only after the outcome?

 You can of course use this action before the Insolvency proceedings are finished. even before they start. Once completion deadline arrives and you have no property with first occupation license available.