Spanish Off-Plan Property - Bank Guarantees - LEY 57/68

This blog is for all those Off-Plan property purchasers in Spain who have not received Bank Guarantees for their deposit funds as required by Spanish Law, in particular LEY 57/68 Article 1.1 and 1.2 and are now at risk of losing their money.

In addition many purchasers who did receive Bank Guarantees are now finding that the Spanish Banks are refusing to honour them without legal action being taken by the purchaser.

Bank of Spain opens investigation into ex-CAM officials
10 February 2012 @ 12:56

Bank of Spain opens investigation into ex-CAM officials

Probe targets early retirement payoffs

El País - Rosa Biot / Santiago Navarro Alicante 9 FEB 2012 - 20:54 CET

The Bank of Spain has opened a disciplinary inquiry into the leadership of the nationalized Caja Mediterráneo (CAM) savings bank.

The measure affects the main former directors of the bank, including ex-president Modesto Crespo and ex-director generals Roberto López Abad and María Dolores Amorós, as well as its board of directors and control committee.

The move comes six months after the government intervened to guarantee CAM’s solvency after the failure of its merger with Cajastur, Caja Cantabria and Caja Extremadura last July. Among the scandalous discoveries administrators have unearthed at CAM since the intervention are multi-million-euro early-retirement payouts to five ex-directors

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2 Comments

COLIN FISHER said:
07 May 2012 @ 00:50

I AM NOW VERY WORRIED AS I HAVE 40.000 EUROS INVESTED FOR 5 YRS.AT C.A.M. ARGUINEGUIN GRAN CANARIA.NO INTEREST HAS BEEN PAID THIS YEAR NOR HAS THERE BEEN A WRITTEM EXPLANATION.I AM TOLD BY COUNTER STAFF AND THE NEW DIRECTOR THAT "YOUR MONEY IS SAFE".WORD OF MOUTH IS NOT SUFFICIENT AND I NOW DOUBT WHAT I HEAR.ARE YOU ABLE TO GIVE ME SOME ASSURANCES IN ANY WAY SHAPE OR FORM PLEASE.SINCERELY,COLIN FISHER.

Keith - Bank Guarantees In Spain said:
09 May 2012 @ 15:22

You should contact:

PLATAFORMA CAM

Sr. Carlos Pena

info@plataformacam.com

www.plataformacam.com