28 Oct 2010 7:51 PM:

 

Hi, I have already posted this on the Medina Golf forum but thought I would also post it on a general thread.

I would recommend the services of Jose Ramon of Law Firm in Spain, his contact details are on the Medina Golf forum.  He successfully obtained a full payout from Zurich Insurance on our Bank Guarantee re our apartment purchase  on this development.  (The original guarantee was provided by ACC Seguros who were subsequently acquired by Zurich).  The settlement with Zurich was reached within a matter of weeks without the requirement for any Court proceedings and the money was in our bank account less than 11 weeks after my initial contact with Jose on 21 July.  It probably would have been in our account even quicker if the lawyer from Zurich had not been on holiday for much of August. 

To clarify that the full payout did not include 6% legal interest, we had to agree to waive this to acheive the quick payout and obviously as we didn't go to Court we were not awarded legal fees.  It is very annoying about the 6% but that was the only offer on the table from Zurich, we did try to insist this was paid as well but with no success.  If we had decided to hold out for the 6% then the claim would have dragged on.  Perhaps Zurich would have settled in full plus the 6%  just prior to Court proceedings, who knows?  However, we decided to take our money and run, rather than risking many months or even years of delays, or worst case scenario, being advised that we had to complete as the LFO had been granted!

 

 

 

 

Thread: Success claiming under a bank guarantee

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