Interesting News for Those Without Bank Guarantees

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22 Oct 2010 00:00 by Laird Dave of Lochaber Star rating in San Miguel De Salina.... 184 forum posts Send private message

the following has been posted by Maria Castro, please contact her for further information not me I, like SARC, only have opinions she has legal knowledge:

Good news from Maria and Costaluz

 

First Instance Court decissions are coming now.

Received copies during the last five days from two different colleagues of mine who have won cases in First Instance Courts:  in Malaga and Madrid.

The Madrid one specifies that even when there was no Bank Guarantee and the Bank allegates that the amounts were not deposited in a special account, the Bank clearly  knew ( as being the financer of this initial deposits) that the amounts were for an off plan purchase.

By a good interpretation and application of provision 1.2 of Law 57/68, and Law 57/68 objective as per Supreme Court considerations,  the Madrid Court makes the Bank liable of the refund, plus legal interests, plus legal costs.

We are advancing! Balance is coming! Good for my colleagues and for Judges too!


Cheers

 

Dave




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