Return of deposits from Aifos in 2003

Much depends now on the Spanish judiciary to demonstrate their commitment to enforce the laws of the land in Spain with regard to the protection of offplan purchasers, as was the sole purpose of Law 57/68.

There appears over the years to have been much turning of blind eyes by all too many within the real estate industry, the banks and legal profession for that matter, or some may say ignorance in this regard. So the educative process is vital to gain any resolution for those who have had their rights denied........

So long as judicial rulings remain inconsistent or unenforced however,  the longer it will take for Spain's real estate industry  to recover, as no-one will be able to say hand on heart that consumer interests are protected in Spain if existing laws are not adhered to. It's up to everyone to keep this issue high on the agenda and to fight for their rights.

As Keith has observed this law 57/68 appears gradually to be gaining recognition in the form of case wins/settlements by those who demonstrate a solid legal case against the Bank (with effective evidence) and are represented by those well practiced in this specialised field. But it appears to be very slow progress to date and great patience is required in the interim (more's the pity!!!).

Let's see what happens in the critical year ahead with ongoing claims against the Banks. But in the meantime it's essential to keep the educative process going, and Keith is doing his bit remarkably well and with great dedication via his postings and petition.

see http://www.eyeonspain.com/forums/posts-long-9347.aspx

Let's see if the Spanish judiciary recognise and respond to everyones' understandable concerns and vulnerabilities in this regard by resolving cases according to the law of the land. The proof is in the pudding, so to speak. As Goodstich has understandably pointed out however, the odd case win here or there will not restore confidence. This law has to be enacted CONSISTENTLY.

I hope everyone can remain positive and focused on the legal fight ahead and support Keith with petition evidence. And I for one hope that those of us committed to this legal fight against the Banks will gradually restore some faith for others to follow suit. But I completely appreciate any misgivings as things remain at present. One step at a time however.

Stay strong eveyone and keep your eyes peeled on this ongoing educative process and look out for successful case wins against the Banks, with return of monies I might add, as a case win without enforcement is insufficient!!! (ever the optimist! ).

Agreed 100% Ads - Case wins are only truly successful with the return of monies.

We will remain positive and keep on fighting.

Let us hope 2012 is the year when the tide really begins to turn and more judgements begin to go in favour of the victim rather than in favour of the developers & banks.

Kind regards

Keith

I've just had it confirmed by my lawyer that the Aifos offer of 50% in 8 years time looks like the best we will get if the creditors agree to it?, but because of no law or regulation that says they will pay, it is most probably useless!. 

Once again you have to ask, ''Is the Spanish justice system/government any better to those so clearly cheated through government lack of regulation and implemented law than the known crooks many of us have won long court battles against? ''.

A win in court can so often meen nothing in Spain, no justice, no integrity, no honesty, no truth, just lies and deception from those paid hansomely who have no intention of doing what they clearly know is right. Where left to turn for justice?, the EU don't want to know, the UK government don't want to know. Pressure on Spain just falls on deaf ears because they know they have nobody in a higher position to answer to.

I've been trying to get justice for years and it's 10 years in June since I put a deposit down, to come to this?.  Of coures well done everyone for keeping up the fight, and especially those who have put so much time/energy/money in to it,  but after all the efforts, have we got anyone on our side who will recognise right from wrong and more importantly can force change?.

I really feel that this situation with Aifos is so clearly wrong that without recognition of that from those in a position to take action, then what chance for others cheated on other developments?. 

A justice system that can be relied on in Spain simply does not exist!!.  Until that changes then perhaps many of us have just wasted our time and money???

Hi Goodstich,

May I ask why your law firm is not following the Bank claim route to justice seeing as how you have invested money to date in their defence of your situation? Why should you have to pay more monies up front, when there is a possible alternative route to justice that has not been tried as yet? Why are they not willing to explore with reasoned and educated argument the case for a claim against the Bank? Do they not hold with this legal argument? If not, what exactly are their concerns about this form of defence of your case? Do they not recognise that an existing law is in place that was intended to protect your deposited monies from the outset?

Why for instance when there are existing judicial rulings to date against the Banks are they not willing to put time and effort into a thorough defence of your case? Have they advised you not to follow this alternative route to justice? Have you in fact been led up a blind alley in defence of your case? Why should you pay more monies when this surely was part of your rights from the outset, and as such required detailed and educated examination of realistic routes to justice?

Sorry to ask these questions as they are difficult questions, but necessary nevertheless..........

Hi ads

I have asked them on several occasions, but I always get much the same answer in that though in theory we should have a case, the justice system is such that the odds are not stacked in our favour?.  Unless I've got it wrong, the blame for no BG can also be put at the original lawyers feet (now gone under). and possibly the first Spanish lawyers we were transfered to.  As for paying for litigation, the agreement was that Aifos and OVP would be taken to court for breach of contract which of course happened and we won against them (for what it was worth?). Back then, taking the bank to court wasn't even seen as an option. I think that starting a BG case would mean starting from scratch.  I haven't written off the idea but to be honest I just don't trust the system to do what's right?. I know we should be able to have a strong case, we were never given a BG, of that there is no doubt, and I fully understand that unless cases like this are bought to court more often then the case against the banks is unlikely to gain much momentum.  Can you imagine though ploughing more money in, only to be told after years of more waiting that  the justice system has cheated you again!  I need something solid at least, not just another gamble on justice.

Hi Goodstitch

The developer has obligations under LEY 57/1968.

The developers Bank who accepted the off-plan deposit also has obligation under LEY 57/1968 - especially article 1.2

Your conveyancing Lawyer does not have a direct legal obligation under LEY 57/1968, however you may be able to claim against their legal indemnity insurance for a lack of due diligence and/or professional negligence if it can be proved that they failed to do everything possible to secure the Bank Guarantee - ESPECIALLY IF YOU PAID THE OFF-PLAN DEPOSIT TO YOUR LAWYER AND THEN YOUR LAWYER FORWARDED YOUR FUNDS TO THE DEVELOPERS BANK ACCOUNT WITHOUT SECURING THE BANK GUARANTEE.

But I think taking action against your conveyancing Lawyer would be very risky as I doubt many Lawyers would relish legal action against a fellow Lawyer!

If you can prove that your off-plan deposit was paid to the developers Bank account then by far the best option would be to file a Lawsuit against the Bank according to LEY 57/68 Article 1.2.  Although this course of action is relatively new there are several instances of Provincial Court Judgments (Santander, Cantabria, Burgos, Alicante, Murcia etc), the Supreme Court of Navarra and various First Instance Courts in which Judges have ruled on the liability of the Banks according to LEY 57/1968.

However, as with any court case nobody can give you a guarantee of success.

Starting a claim against the Bank would not necessarily mean starting from stratch.  Much of the evidence must already be contained in your original Lawsuit against the developer.  So it would be a case of revising that Lawsuit, adding some arguments for the liability of the Bank and incorporating examples of LEY 57/68 Case Law.

Kind regards

Keith 

Great advice Keith. Is there no way that your lawyer can minimise the cost of taking this form of action against the Bank, Goodstich?

Law firms should neither be ignorant of their own laws in Spain, nor should they lack the faith to pursue good and sound laws.

Likewise the judiciary have to be consistent in their rulings.

As for the statement relating to lawyers unwillingness to take action against another lawyer in Spain, this implies unethical practice within the legal profession and acts as yet another example of where reform and regulation from the legal professional bodies themselves becomes necessary.

Self regulation, not protectionism to cover bad practice!.

If the Spanish Government seriously wants to improve the country's credibility in terms of their real estate industry, then all of these aspects will have to be brought under control.

Hi Keith,

I have sent you a P.M. regarding " Bank Guarantees" and " Lawyers suing Lawyers"

Cheers Belucky

** EDITED - SPAM- Against Forum Rules **

This message was last edited by eos_moderators on 16/01/2013.

 That's good to know Caroline.

For an English woman you are for having an odd way with the speaking of the English which might make one be suspecting that you is a Spanish lawyer. 

 or someone pretending to be a victim of Spanish property fraud looking for other victims to part from whats left of their cash .....

My father is from England and my mother is from Spain and I have lived most of my life in Spain.

I know that there are many lawyers looking for victims and money and I know that the situation right now is not good but I just want to help.

 Methinks youdo protest to much 

When you bombard every page it looks suspicious .......