Taking the banks to court on a no win no fee basis

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25 Jan 2011 00:00 by nigela Star rating. 387 forum posts Send private message

 I recently saw the following post from someone interested in taking the banks to court on the basis of no win no fee.  I have outlined our position to him told him that we had no BG and he is interested and has asked me for further details.  They will only take on cases where they feel they have a good chance of winning.  I would be grateful for others views on this.  

 

This is his posting:

Hi All,
 I thought after all the recent posts and discussions relating to myself and ReclaimYourDeposit I would start to participate in these threads. I have below tried to cover most of the points that seem to have arisen.
Our No Win No Fee offer is aimed at the recovery of money from banks rather than bankrupt developers or negligent lawyers. This is because our ongoing legal research and study has given us the opinion that the banks are financially responsible to protect purchasers deposit money on developments that do not reach completion and a clear breach of contracts can be proven i.e. delays. We believe the Spanish government is committed to addressing this issue and the recent government announcement to overhaul the property purchase system and protection to international purchasers and the recent court ruling over a banks legal obligation to a purchaser are demonstration of this. Although there are no guarantees we have a panel of like minded lawyers who are willing and financially able to work with us on this basis.
We do not take on all cases and all cases are individually assessed. The base criteria requires a non completed property, if a licence of first occupation has been issued it is extremely unlikely we would take on the case. We need the original private purchase contract, demonstrating a clear breach of contract and proof of payments and ideally a bank guarantee (expired or not) otherwise some evidence of a banks involvement in the project, ideally for both collecting deposit funds and funding the development via construction finance.
We believe No Win No Fee has an important role in the market as many purchasers are now unable to fund a costly claim, or are of the mind set they are throwing good money after bad furthermore, many now distrust Spanish lawyers and the Spanish legal system. We and our lawyers feel offering No Win no Fee is one way to help re-establish faith in Spanish lawyers and the Spanish legal system and give as many purchasers as possible a chance to recover deposit monies which were always supposed to have been protected by the law.
As for some of the links about me, some of those are new to me. I did work as an employee at Rushcliffe and left after 2 years in 2006 as I was unhappy with certain things, i later worked as consultant for a few months at the bequest of a shareholder to help people complete. I have not seen the owner for 2 years and have no connection to him.. What I saw at Rushcliffe did spur me on the assist people with distressed property purchases in Spain, I will say Rushcliffe had issues but they are nothing to what I have seen since. As for Heaven Bay in Akbuk I have nothing to do with this development and was not aware of this website.
If you have any questions you would like to ask feel free to email privately or post on this thread.
 
Daren Wallbank.




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25 Jan 2011 15:01 by gazza Star rating. 45 forum posts Send private message

Definately worth a go if it's no win no fee. I have paid over 71,000 Euros and have no Bank Guarantee so I am certainly interested. What do I do next?

 




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25 Jan 2011 15:46 by inspectahomespain Star rating in Corvera Golf & Orihu.... 1940 forum posts Send private message

Vip Supporter

I suggest that you read the post on the main forum on this topic and company and make your own decision heading breakthrough in bank guarntees



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25 Jan 2011 16:19 by kingdingaling Star rating. 22 forum posts Send private message

Sounds too good to be true therefore in my experience it usually is - I reserve judgement on this one.




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26 Jan 2011 12:42 by nigela Star rating. 387 forum posts Send private message

 He has asked me for certain documents - the solicitors will then look at them and he will then come back to me.  I will let you all know one way or the other.  It is quite surprising though - I asked my current solicitor for the relevant documents to give to them - guess what I had a reply within 3 hours telling me how well my case against HUMA was going!  They had ignored all my other e-mails this year.




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