| The Comments |
Melcar - OK. Let us all keep fighting together.
mlm - Congratulations on getting your money back. I am very pleased for you. With all the current problems it is always good to hear the success stories. I think it gives a boost to everyone who has not yet been as lucky as you - that one day they can join you in posting their own success story!!
I like the word you used - 'torture' - it really is a torture the way we are all being treated by the developers, banks and the justice system.
Again, another success for Maria and Costa Luz Lawyers. You are correct few Lawyers really want to take on the 'big boys' or the Banks - probably because many of them have a 'conflict of interest' and were recommended to the purchaser by the Estate Agent or Developer. So they were never truly independent.
Maria is determined and passionate about getting results for the clients wherever possible. Nobody can guarantee success, but having a determined independent Lawyer who is willing to work 100% in your interest is certainly a good start!
Here's to more success stories over the next few months!
Kind regards
Keith
_______________________
LEY 57/1968
CLICK HERE FOR THE BANK GUARANTEES IN SPAIN WEBSITE
  
fpag@btinternet.com
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Maria and the team also acted on our behalf.
We also got a full refund and half our legal fees returned but no interest,again it was almost four years but when we went to costaluz lawyers nine months later we got our money.From start to finish they keep you informed and ther are no hidden costs because they tell how much it will cost from the start,so good luck to all and best wishes.
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Today in our Spanish bank account (Halifax) we have received a full refund of deposit and legal interest ( over 9000 euros) from the succesful execution of our bank guarantee. The builder would not refund so we went to court, won the case. (details posted in January this year) We still have to be paid back our legal fees as the judge also awarded in our favour.
The process started in April 2009 when the builder would not give us a discount for the late delivery of the property. Our solicitor used the Bank Guarantee but the bank would not honour it so the court case ensued. Judge made decision in January this year, bank did not appeal but it still took a lot of prompting to get them to hand the money over to court, and then even more waiting for the Spanish court to hand the money over to our solicitor.
From paying our solicitor to getting our money back took just over a year. We can now finally breath a sigh of relief as until its in the account something can always go wrong. Our property and immediate area is now finish by the builder, LFO is in place I believe but the property price is about 50,000 euros too high.
I am very happy to get our money back and can now move forward to buy our Spanish home. A completed, well established area not off-plan this time.
Cat
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Cat
Great News that you have successfully executed your Bank Guarantee and received your refund together with the legal interest to which you were entitled.
The Banks are no longer having it all their own way.
Good luck in your search for a resale home in Spain. Just remember even if it is a resale, things can still go wrong. So instruct a good Lawyer - maybe the one who just won the case for you - and make sure all the proper checks are carried out before signing on the dotted line.
I am pleased you are still choosing to buy in Spain. I am sure you will enjoy life in your new house wherever it may be.
Spain is a great country with friendly people - but the damage done by the corruption and lies in the real estate sector will take many years to recover from.
Kind regards
Keith
_______________________
LEY 57/1968
CLICK HERE FOR THE BANK GUARANTEES IN SPAIN WEBSITE
fpag@btinternet.com
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Hi all
Have just opened one of the free papershere on the Costa Blanca, and on the 3 rd page was a big ish article all about the petion regarding bank guarentee's and the situation with the Spanish goverment. So at least it is getting noticed, lets hope it puts some pressure on the right poeple.
JD
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Yes, JPD, it will put pressure on the right people. The history of the protest movement against corruption in Spain over the last 7 to 8 years shows that some small cracks are at last beginning to appear – even though you may feel that a microscope is required before you can see them.
The continuing corrupt practices of the Spanish authorities must be ended. They must not be allowed to ignore the law that they themselves drew up. It’s a good law and needs to be followed. It’s time again to make our voices heard in a coordinated act.
Many of us have written innumerable letters as individuals. Organisations have been formed. If you are new to the protest movement take a little time to read what has already been done. It is in your own interests to do so.
Since 2007 Suzanne has gathered together a huge all-embracing petition with accompanying stories detailing the corruption encountered. This was sent to many officials in the UK, Spain and the European Parliament. She took the petition personally to the European Parliament where she was allowed to speak to it in the Petitions Committee last year. You can find this here to add your name:
Andalucia has not yet formed such an organisation to deal with the laws relating to the purchase of off-plan property. This is where the law re Bank Guarantees is such a vital issue and where Keith has focussed his protest.
What Keith is attempting to do in this petition is collect HARD EVIDENCE of law breaking by agents, developers, lawyers, judges and government agencies. But he can only do this if we supply him with the facts of our cases. These will be presented to those named on the petition as tables of statistics. He needs to know about successes as well as failures. And he needs support for the work. Even if you have not been a victim personally of corruption you can still lend a supporting voice in the first section of the petition and you can register your disapproval in the last section.
It is not just in your own interests that something is done to get Spain on the right track, it is in Spain’s own interest that it is done.
So, use your voice. And use it now.
Sorry about the number of edits - the links keep tangling together - hope they all work now.
This message was last edited by ruth on 21/08/2010.
This message was last edited by ruth on 21/08/2010.
This message was last edited by ruth on 21/08/2010.
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"But the Spanish media were reluctant to cover the story. "
Maria/Keith
Do you suppose this is a form of protectionism? What are your views on the reasons for this lack of coverage?
Are the Spanish media fearful of the financial repercussions to such an expose? Surely the Spanish are as frustrated as many across Europe at the non accountability of the Banks and their actions? Don't they realise the negative implications relating to this serious situation and how it impacts on the Spanish real estate sector? It's in everyones' interest to get this sorted ASAP, and re-establish credibility in the rule of law in Spain.
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Hi
Although we have started legal action through CostaLuz lawyers, we have also tried to highlight our story in the press both in Spain and the UK .
We were really pleased recently that the Mail On Sunday covered our story. You can view Tony Hetherington's column if you search Mail On Sunday Atlas International 'definitely maybe' guarentee. There has also been interest from other UK newspapers who have contacted us to follow up the story.
We have also written to english language spanish newspapers in the hope that we are gain some interest from them.
By writing to various parties it helps us to vent our frustration at the situation we (like many others) find ourselves in. Our purchase was never about an investment, it was to be a home in the sun that family and friends could enjoy with us in the years ahead. Like many others we thought that we did everything to safe guard our life savings.
If you are considering buying a property abroad, please read our story before you commit to the purchase.
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I can't stress sufficiently that EVERYONE caught up in the Bank Guarantee scenario (whether you have a BG or not) should complete Keith's petition, www.bankguaranteesinspain.com , if we are to make any headway on this. Also those who are in support of this petition should also sign.
IT IS NOT A COMMERCIAL VENTURE BUT A SERIOUS MEANS OF IDENTIFYING THE SCALE OF PROBLEMS ASSOCIATED WITH BANK GUARANTEES. The results from evidence gathered is essential to demonstrate how the law regarding BG's is, in the main, not being followed through, and how major court delays and on occasions legal inconsistencies are further exacerbating the problem by compromising those who are "stuck" within a failing justice administration system.
PLEASE EVERYONE TAKE THIS SERIOUSLY.
GIVE YOUR SUPPORT TO www.bankguaranteesinspain.com
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Thanks Ads.
I am not sure why the Spanish media seems reluctant to report the facts. Our press release was sent to them in Spanish - so no excuse there.
La Verdad newspaper have covered all aspects of the Finca Parcs project over the past 5 years. They ran a good article a few weeks ago on the Finca Parcs Action Group and the Bank Guarantees Petition. They seem keen to cover the story.
It takes time for the word to spread about the petition. Slowly but surely more newspapers and websites are covering it.
MP's and MEP's are also becoming aware of our petition.
Our Finca Parcs Action Group case regarding CAM Bank and lack of Bank Guarantees is also being reported to the Banco de Espana and various other associations and organisations in Spain.
The Banks are complicit in the illegalities committed by the developers whom they were funding and were in collaboration with.
At some point the Banco de Espana will be forced to take action against the Banks that are clearly acting contrary to Spanish Law, in particular LEY 57/68.
If with all the evidence at its disposal detailing exactly how the Banks under its supervision have acted contrary to Spanish Law the Banco de Espana still fails to take action then they will also be guilty of gross negligence and failing to protect the consumer.
Kind regards
Keith
_______________________
LEY 57/1968
CLICK HERE FOR THE BANK GUARANTEES IN SPAIN WEBSITE
fpag@btinternet.com
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Good news from Maria and Costaluz
First Instance Court decissions are coming now.
Received copies during the last five days from two different colleagues of mine who have won cases in First Instance Courts: in Malaga and Madrid.
The Madrid one specifies that even when there was no Bank Guarantee and the Bank allegates that the amounts were not deposited in a special account, the Bank clearly knew ( as being the financer of this initial deposits) that the amounts were for an off plan purchase.
By a good interpretation and application of provision 1.2 of Law 57/68, and Law 57/68 objective as per Supreme Court considerations, the Madrid Court makes the Bank liable of the refund, plus legal interests, plus legal costs.
We are advancing! Balance is coming! Good for my colleagues and for Judges too!
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Hi, I have already posted this on the Medina Golf forum but thought I would also post it on a general thread.
I would recommend the services of Jose Ramon of Law Firm in Spain, his contact details are on the Medina Golf forum. He successfully obtained a full payout from Zurich Insurance on our Bank Guarantee re our apartment purchase on this development. (The original guarantee was provided by ACC Seguros who were subsequently acquired by Zurich). The settlement with Zurich was reached within a matter of weeks without the requirement for any Court proceedings and the money was in our bank account less than 11 weeks after my initial contact with Jose on 21 July. It probably would have been in our account even quicker if the lawyer from Zurich had not been on holiday for much of August.
To clarify that the full payout did not include 6% legal interest, we had to agree to waive this to acheive the quick payout and obviously as we didn't go to Court we were not awarded legal fees. It is very annoying about the 6% but that was the only offer on the table from Zurich, we did try to insist this was paid as well but with no success. If we had decided to hold out for the 6% then the claim would have dragged on. Perhaps Zurich would have settled in full plus the 6% just prior to Court proceedings, who knows? However, we decided to take our money and run, rather than risking many months or even years of delays, or worst case scenario, being advised that we had to complete as the LFO had been granted!
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Grrrrrrrreat !!!!!! well done !
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 Well done . Youve now become a member of our very exclusive little club.
All our members have managed to Execute a Bank Guarantee.
Dave Butler
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Good news Penny W.
It seems that very slowly the situation regarding Bank Guarantees and Off-Plan deposits is, quite rightly, turning in favour of the consumer.
At least in some instances it seems the inalienable rights granted to the consumer by LEY 57/68 are being upheld by the Courts.
Let's continue advancing with our actions and I am sure over the next few months there will be more and more good news stories.
Dave - Great news also about executing your BG - which development were you purchasing on and how many were in your group?
Kind regards
Keith
_______________________
LEY 57/1968
CLICK HERE FOR THE BANK GUARANTEES IN SPAIN WEBSITE
fpag@btinternet.com
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Hi Keith
We were purchasers on Santa Ana Del Monte, Jumilla, builder San Jose. There were approx 2800 purchasers of which less than 5% were given Bank Gauarantees. We were lucky we insisted before we paid the 50% deposit. It took 18 months to execute the BG from SGR mainly to them stalling and nit picking, I beleive if we hadnt been living here in Spain and been able to constantly harrange our solicitor we would still be waiting.
Finaly we were paid in April this year after I managed to get hold of the personal mobile phone number of the Finance Director of SGR. Its amazing what a few blunt calls when he was at home managed to acheive.
We have now been able to get on with our life and finally enjoy this great country and its people.
Cheers
Dave
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Congratulations, Dave. That’s very good work indeed.
When we look at the history of the few successfully executed bank guarantees there appears to be no consistency whatsoever in getting deposits back. Some have done it by playing by the rules as laid down in the original contract (and waiting VERY patiently), some have done it through employing a lawyer to enforce laws (VERY expensively), some have done it through EMBARRASSING THE BANK PUBLICLY by making a single visit to their branch on the street accompanied by their lawyer and agent and making a loud fuss in public (you read it on here some months ago). Dave, I think your tactic could be grouped with that third method.
It seems to me that it’s definitely the loudest wheel that gets the oil. It would be so helpful if Keith’s Petition could be got up to speed. It needs the support of all of us – those with guarantees and those without, those who are still struggling and those who have been successful, and those who kindly want to support. For the petition to become a powerful tool for use in our argument all our stories need to be told. Please take another look at it. Check out the list of people and agencies who will receive a copy. And then complete the questions in the survey which you feel are appropriate for your own case and are comfortable answering. Then, and only then, can we start banging on doors.
In the meantime, Dave, that’s a brilliant result and it’s made my weekend.
Ruth
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