builder bankrupt

Bought a property and have made two payments, fortunately did not make final payment.  House not finished and builder gone bankrupt.  Have a solicitor at present and given power of attorney, anyone had this problem.

What is your development/developer?

The development is Paulo IV in San Miguel de Salinas and the builder was Union Promotora Torrevieja  SL

If you have got rights to cancel your contract ( delayed completion, lack of advertised facilities, lack of squared meters, lack of Bank Guarantee...) I would advise you to both:

- Cancel the contract

- Intervene within the creditor´s meeting for a good defense of your credit.

Of course a god independent lawyer with an expertise in real estate law, contract law, consumers law and bankruptcy is needed.

Good luck!

Maria