Legal tip 759. Cantabria speaks out on fraud of Law by Banks and developers
Tuesday, May 15, 2012 @ 1:59 PM
So bright !
This case Law passed by Section 4th of Cantabria Case Law on 17th of March 2010 (a Saint Patrick´s day ;) clearly describes how banks and developers tried to get around Law 57/68
Even brighter the correct interpretation that Magistrates do of liabilities of the depositer Bank under this law, which makes them liable of:
- Existence of Bank Guarantees or Insurance Policies for the refund of off plan deposits
- Deposit of amounts in the right account
- Use of deposits for building purposes
Excellent, truly excellent.
Congratulations Cantabria!
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"Aracena, España", Huelva, Spain, by Julia Folsom, at flickr.com