27 May 2008 8:48 PM:

Hi Justin

Thanks for your response.

I have not been provided with a copy of the contract, however, the Lawyers initial letter stated that by utilising their clients account to make stage payments I would be protected and that they would seek (most importantly as they state) seek the bank guarantee to cover my investment.  They also mention that a bank guarantee is essential!!!

I do have subsequent correspondence that also refers to them obtaining guarantees and holding my money in escrow until the guarantees are in place.

Whilst I never assume anything where the law is concerned it is my understanding that guarantees were a requirement of the contract and the lawyers certainly appeared to be making all the right noises at the outset.  

Thanks and I look forward to hearing further on this point.

Helen

Thread: What is the situation if promised bank guarantees were not obtained?

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27 May 2008 12:00 AM:

Hello everyone

I would be interested to here from anyone who knows whether Spanish Lawyers are obliged to take out Professional Indemnity Insurance as in the UK.  

I am one of the unfortunate San Jose victims who does not have a bank guarantee despite being assured by my lawyer one would be obtained and that my deposit would be held in escrow until such time as the guarantee was issued/in place.

If Professional Indeminity Insurance is mandatory is there a central body, like the Law Society that I can contact to check the lawyers credentials and current status.

All advice/help gratefully received.

Many thanks

Helen





Thread: What is the situation if promised bank guarantees were not obtained?

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