Claiming against Banks

Please can anyone advise if they have decided to use Costa Luz lawyers at reduced fees? We won our case in court in 2010 against Palmera Properties. Of couse they never paid a penny back as they have no assetts allegedly. Costa Luz are now offering to pursue the Bank who received our funds but having already spent about £5000 in solicitors fees to Lawbird we are loathe to throw any more money at this without any guarantees.  Why did our previiuos solicitors not advise us of this option  4 years ago. Has anyone else decided to try this. I would appreciate any advice as we really cant afford to waste any more money but then that is giving up on the 40000  euros we lost .

I understand that the costa luz lawyer is on a no win no fee arrangement ?

So dont really understand your post.

No its about 4500 euros not no win no fee I thought it was a reduced fee but doesnt seem very reduced .

 

Personally I wouldn't throw any more money at it. Take heart from the fact that had you gone ahead with the purchase you would have lost more than the 40,000 by now. Plenty of properties for sale at knock down prices, that's if you still wish to purchase in Spain! You could actually come out ahead, with a better property for less money.

Good luck with whatever you decide.

There is always a misundertanding regarding "no win no fee"

This formula means that there is no final fee if the case is lost. Final fees are always of around 12% of the claimed amount, and generally imposed on the loser party.

Initial provision of funds is always necessary unless you have a financer as a Law Firm.

There are 2 teans of  expert people working hard for these cases and many fee defaulters. This makes the business harder but... we are used to work through it. No worries at all!

THERE ARE NOW MORE THAN 60 COURT DECISSIONS  ( Appeal and Supreme Court) backing this strategy!

Cheers

Maria

This message was last edited by mariadecastro on 18/07/2014.

Very sensible acvice xetog if he had of purchased his loss now would be greater perhaps all those in the same situation should just write it of and move on with there lives 

Wouldnt pat any of these lawyers a penny more they are all on the take its they that should be sued for professional negligence in a lot of cases not checking the legality of these properties 

Love Stu

60 successes and 10s of thousands still out of pocket

It does seem that way..When I think about it the lawyers we instructed must have known we had not got a chance of getting any money from Palmera and no doubt they have continued taking on clients knowing full well the outcome,  after all the wasted years and court time doubt anyone ever got  a penny. Id love to know if the courts still bother even hearing cases against some of the developers what is the point  in finding against them but not enforcing any repayment At least we have kept lawyers and courts in business for a few years. 

You can check our clients testimonials on these type of cases here and see that dozens of them have already received their refunds and there are many more coming in:

http://www.costaluzlawyers.es/testimonials/contract-cancellation-testimonials/

Won cases

As we do, there are also some other good Law Firms who were not involved with developers and agents in the Real estate boom and are doing their best at present to recover those deposits with a good level of success: I would mention Guadalupe for instance, but there are some other good ones round. Do not lose hope now that the route is clear. It has costed years and years of efforts and study. 

We were in the same position in 2010 Maria/ Costaluz Lawyers   won a court case against INROAL ( builders for Palmera Properties) in our favour. We have not recieved a euro to date and INROAL are now in liquidation, after 6years we have called it a day. Although Marias fee is no win no fee there appear to be additional court cost etc that are needed to be paid therefore enough is enough. Graham G

Graham:

I full understand you and your frustraion. There is actually another thread we have started on this:

http://www.eyeonspain.com/forums/posts-long-19885.aspx

What can I say? It is your decission but.... I wish you will not regret in the future. Every balanced decission is right.

Cheers

Maria