Costaluz Lawyers, A great success in recovering our deposit using law 57/68

Fantastic result.

Excellent to see BBVA responsible for the off-plan deposit even though no Bank Guarantee was issued.

Banks accepting their obligations under LEY 57/1968 Article 1.2 - BRILLIANT!!

Was this actually a First Instance Court Decision or was it an out of court settlement on receipt of the Lawsuit?  Maybe María can confirm this.

Kind regards

Keith

That is just brilliant news for you. Congratulations to Maria and her team at CostaLuz Lawyers and to you for your tenacity in following the case to a (almost until you get your costs etc.,,) satisfactory conclusion.

The years of trying to get justice certainly take their toll on your health and peace of mind and so I send my best wishes for your future.

To Maria I say, 'more power to you!'

Many congratulations to Chris and Julie and to Maria and her team. Well done indeed! It's so good to hear of a success where there was no BG issued.

I too would be interested to know if this was a settlement by the Bank or if a resolution had been achieved  via the courts and if so did the Bank appeal the ruling?

Chris & Julie,

Have you got your money back in your own bank account from the won case?

Very interested to hear if this is the case and, if so, howlong did it take from winning the case to being in your bank account...

Regards

Mark

Hello Mark,

Yes we have the money back in our account, we waited until we received it before posting so as not to tempt fate.

It took approx 6 weeks from the sentence of the judge to receiving the money however this was over the christmas period when there were many holidays.

We hope many more of you will also be successful in the near future.

Kind Regards

Chris & Julie

Hi Ads

I think it was probably a settlement by the Bank once they received the Lawsuit.

María's Legal Tip 618 posted on 18 Oct 2011 - "BBVA settling out of court" is in relation to this particular case:

http://www.eyeonspain.com/blogs/costaluz/6204/legal-tip-618-bbva-settling-out-of-court.aspx

Kind regards

Keith

Many thanks Keith,

So there still has not been a judicial resolution via the court system to this problem relating to lack of Bank Guarantees as yet? It  was settled by the Bank prior to going to court?

I don't wish to undermine the success via a Bank settlement as this is a significant result , but it's important to understand the legal detail to this claim option against the Banks and to establish if the judiciary have yet ruled against any Bank under these circumstances.

Perhaps Maria can advise.

.

It seems that this case was settled by the Bank once they received the Lawsuit. So the case was in the court system and the Judge would have dealt with the Banks offer. But it would not have gone to full trial so the Judge would not have passed a Judgment.

But it is very significant.  The Lawsuit must have contained arguments based upon the Banks liability under LEY 57/68 Article 1.2 and it appears the Bank realised that it was not in their interest to defend the Lawsuit.

This is similar the recent settlement by Caja Murcia which María refers to here:

http://www.eyeonspain.com/blogs/costaluz/6645/legal-tip-693-caja-murcia-settling.aspx

There are now 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.

For example in the recent Murcia Appeal Court case the buyer had paid two instalments to the developers Bank Account. The Bank only issued a Bank Guarantee to cover the first payment. However the Judge ruled that the Bank must refund both payments and not just the one they had issued the BG for.

So although there are Judgments which make the Bank liable for the full amount of the deposit paid by the buyer they are cases where the Bank had issued a Bank Guarantee for part of the deposit.

There are thousands of BG cases in the courts so it is just a matter of time until we learn of a Judgment against a Bank where no Bank Guarantee existed for any of the deposit.

I am sure María is checking new Judgments and Case Law on a daily basis. So watch this space!

Kind regards

Keith

You can now add Valladolid to the court judgments against the Banks for their liabilities under LEY 57/1968...........

http://www.eyeonspain.com/blogs/costaluz/6693/legal-tip-701-valladolid-appeal-court-and-full-liability-of-banks.aspx

So:  Navarra, Santander, Cantabria, Burgos, Alicante, Murcia, Valladolid........

Keep them coming!!

Kind regards

Keith