Return of deposit

At last after 5+ years we have  our deposit from Polaris returned on our Penthouse which was never built on Terrazas.This did involve court proceedings.

This was due to the excellant work of the legal team at Costaluz lawyers led by the the lady we all who have been succesful are eternally grateful, Maria

So I posted this message to give hope to those still waiting and wish them well.

Will post more detail when available as only happened a couple of hours ago

Curtis.

Fantastic news Curtis!!!

We are in court the end of May against PW hope to get the same rightful result.   Well done Maria and team.

Regards Ian Brierly

Cheers Ian,

All the best for May.

Curtis

Thankfully we have been successfull in retreiving our deposit from the CAM bank, who have been holding our funds, under bank guarantee, for the Almanzora Country club fiasco. We had started civil court proceedings, which our lawyer will now stop, as they have been and are a waste of time. We were badly advised by a number of lawyers, and after sacking the last lot,gave our case to our lovely lawyer in Motril, she went straight to the bank and within 4 months got our money back with interest. We are still awaiting the small initial deposit, but have been assured we will get it. We can't believe our luck after all these years (2004 it all started). We would still love to see the b******* at Huma get their come upance and something done about the banks who are allowed to hang on to people's money when there is a bank guarantee in place.

Good luck to all still trying to get their monies back, don't give up....their is hope. Nicky

Well done Nicky , so good to hear some positive news.

Presumably this was this classed as an out of court settlement from prior negotiations with the Bank then? Did your lawyer quote Ley 57/68 in her negotiations?

Did she go in person to the Bank, or was this achieved through correspondence with the Bank?

Hi Ads

Our lawyer went to the CAM bank in Motril, where she knows the manager, he checked to make sure our money was there and then she exercised the bank guarantee and instructed them to give us our money back, yes she did quote ley 57/68. She did not go to the actual CAM bank which is in Murcia it was all done by correspondence and constant barracking on the phone, and constant visits to the branch in Motril. Our lawyer did not negotiate via the courts, she went directly to the bank.

 Maria,

Would this option of a direct, determined and very pro-active approach to the Bank work with generic Bank Guarantees, which in turn would alleviate the pressure on courts by enabling out of court settlements?

Thank you Nicky for your informative posting.

Many thanks Trowell for the feedback.

To Maria and Guadalupe:

May I ask a couple of questions which might help to clarify the evidence required to follow this legal route?

When using the generic BG, is evidence required to prove which specific Bank received the deposited monies, or is it sufficient to prove that deposited monies for offplan purchase were transferred to the developer who breached the contract?

Having a contract and proof of your obligations ( payments) being made ( not necessary to prove special accouny here) is enough to ask guarantoor for the return of your deposit.

 It may already be on this thread (apologies for not reading all of it) but for anyone involved in off-plan developments and trying to get their money back - please join this bank guarantee petition  http://www.bankguaranteesinspain.com/

There are approximately 500 to 600 signatures on it so far which I find a pitifully low number. Come on - let's do something about this!

Hi Coleen,    

I agree that the numbers of people who have joined the petition is very low and those who have not sent in their information and joined the petition want to get their fingers out and get writing.

Even though 500 is a small amount of people it is when you translate it into lost life saving and  the amount of money involved, it is then that it starts to hit home

500 people multiply by an average of 100,000 euros deposit each, it equals, 50,000,000-00, which is a large amount of money in anyones book, so imagine what the real total amount of lost money is if everyone concerned did join the petition.

BTW lets not forget the thousands and thousands of euros we have all spent on employing Spanish Lawyers, and the very, very  few, who have had a successful result.

Hi Coleen & belucky358

Thanks for your support for the Bank Guarantees in Spain petition - www.bankguaranteesinspain.com

There are around 525 people who have joined the petition so far.  What we have to remember is that 95% of the petitioners have completed all the questions relevant to their individual case.  To complete all those questions is a time consuming excercise but it provides a massive amount of evidence and data.

We could have obtained many more petitioners if it was just a list of names with no data, but the final impact would not have been so great.

As it is a web based petition it has been 'visible' to all for the past 2 years, including the Spanish Government, Banco de Espana, Lawyers etc.

Many important organisations are aware of the website and petition.  Many buyers have been made aware of the existence of Spanish Law, LEY 57/1968.  So in addition to being a petition is has also acted as an awareness campaign for Bank Guarantee issues.

Kind regards

Keith

Hi Coleen& Belucky,

                                    Have just completed Bank.  Guarantee in Spain petition have only just seen it as I have not been on the site for a while.

Regards.

Ann.

 Does anyone think it is worth pursuing the banks anymore as the financial situation in Spain is so dire?

I'm talking in particular about the BBVA. 

Hi everyone,

I have been posting to many forums but I think that if I received my deposit from bank guarantees you can receive it too.
As I see that many of you had problems with the deposits you gave to Herrada-San Jose, I must say that my lawyer in Spain won my case regarding the guarantees. As most of you, we didn't have any individual guarantees to our name, they were just general guarantees.

I know that every client has the same right as me so I asumme that you can recover this back too.
We won against the banks Banco Pastor, BBVA and SGR and they already paid our guarantees back.
I am really happy with the work done so if any of you looks for any legal assistance I can give you my lawyers email address or if you have questions you can write to me caroline.mills36@yahoo.com

I hope that everyone can be so as lucky as me

Caroline