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Wednesday, December 19, 2007
fruitloop
Parcela
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Hi to all
We have a problem, we are taking our builders to court they have agreed to freeze their assets. The court has asked us to pay 18000 euros in the event we lose the case the solicitor says we have 95% chance of winning.
The only problem we got is we do not have this amount of money would it be wise to try & borrow the money.
We are in a dilemia. Has anyone had this situtation and what was the outcome.
Any advice would be much appreciated.
Kind regards
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20 Dec 2007 8:04 AM
Tish
Adosado
I've made 337 posts
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Just my opinion
If you do not have the money then I would not borrow to take the case to Court. 95% odds is not good enough IMO and from the recent cases that I know of that have been lost, I would not risk it in the present climate of "Spanish Justice"! (It beggars belief) Your lawyer,however good ,cannot predict the outcome.
It is reasonable to pay some money upfront but 18,000euros is a lot to pay. Good Luck.
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28 Dec 2007 8:03 AM
yayuer
Parcela
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"The court has asked us to pay 18000 euros in the event we lose the case"
Why do you have to pay 18000 euros ? I can´t understand
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28 Dec 2007 9:15 AM
mariadecastro
Finca
I'm in Algeciras (Cadiz)
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What the Judge is asking you to give is not a penalty but a guarantee, think of a contraguarantee.
In those cases where a claimant is asking for a preventive freezing of any of the defendant´s assets, it is obligatory ( according to Provision 728 of the Civil Procedure Act) to give a contra-guarantee against the guarantee that the freezing implies. The reason for that is to prevent the possible damages that the defendant might suffer if the freezing results as not founded at the end of the litigation. This guarantee ( the 18000 €) can be cash money or any other kind of guarantee ( i.e.- joint guarantee) that the Judge considers enough and executive.
Know that the preventive freezing of assets is not obligatory, juat as you know, an optional guarantee for the reinforcement of your credit rights against the deffendant if it is in serious financial difficulties or have a big list of creditors.
This message was last edited by mariadecastro on 12/28/2007.
_______________________
Maria L. de Castro, JD, MA
Lawyer
Director www.costaluzlawyers.es
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