Maria, I have a situation where a builder has received funds as a deposit in 2006, and has consistently renaged on offering a bank guarantee, despite the fact their own website continues to perpetuate the lie.
The developer has faced problems obtaining full building licence due to consistent objections by polictical parties and green peace.
The builders have now walked off site.
The money was paid to a supposed ring fenced account with Cam bank.
The developer is adament cam bank have received funds and have refused to issue bank guarantee.
My solicitor is of opinion as cam bank have renaged on the issuance of bank guarantee and have stopped funding for development, as cam bank hold our money we could sue the bank not the builder for return of funds.
As usual with the corrupt spanish builders, although the managing director is a multi millionaire and has in excess of 7.5 million euros in bank accounts the builder reckons they have no money.
do you think a legal case against the cam bank for return of monies and would we have a chance of being successful as the money sits with cam bank.
90% of the properties have not been built yet, and most buyers paid their deposits in 2005 / 2006
thanks in advance