bank guarantee deposit for Calanova Palm Golf

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02 Jan 2010 12:00 AM by gill Star rating. 5 posts Send private message

Has anyone succeeded in getting their money back from the Bank/Developer in respect of Calanova Palm Golf ?(never built)  We put a deposit down in 2005 and apparently have a cast iron bank guarantee.  However the bank wont pay and keeps asking for extra papers which our lawyer keeps providing.  We went to a Notary with our lawyer and even the Notary was amazed that we are having to take this action.  


 





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03 Jan 2010 7:49 AM by mariadecastro Star rating in Algeciras (Cadiz). 9419 posts Send private message

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 Yes, it is amazing!



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03 Jan 2010 11:16 AM by EOS Team Star rating in In Spain of course!. 4015 posts Send private message

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The bank guarantee system put in place to protect off plan buyers seems to totally fall down at the point when you really need it.

Another reason why the Spanish property market is in such a state and will take years to recover.

Justin



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04 Jan 2010 10:15 AM by mariadecastro Star rating in Algeciras (Cadiz). 9419 posts Send private message

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But well... I need to add that actions in Courts for this are generally succeesfull.

Best regards,

Maria L. de Castro



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Maria L. de Castro, JD, MA

Lawyer

Director www.costaluzlawyers.es

El blog de Maria



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07 Sep 2011 1:22 AM by John Dublin Star rating. 4 posts Send private message

Just got my money back, will be happy to share details if you send me a private message.





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