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El blog de Maria

Your daily Spanish Law reporter. Have it with a cafe con leche.

Legal Tip: 1453 - LEY 57/1968 Case Won against Banco Popular for buyers at the IDEARCO development 'Residencial Miramar' in Cabo Roig, Orihuela Costa
01 May 2018 @ 14:30

The development by Construcciones de Ideas Arquitectónicas Alicantinas SL (IDEARCO) should have been completed in 2009 and was still not completed in 2013 when the Lawsuit was filed.

The developer abandoned the development, leaving buyers without guarantees and therefore, unable to recover the off-plan amounts paid. Nor did the developer appear at the trial.

In a situation of abandonment as described, it is only thanks to the interpretative development of Law 57/68 of recent years, driven by the efforts of Keith Rule and the CostaLuz Lawyers-DeCastro Law Firms, that the buyers of this development can recover their money, which in many cases are their life savings.

Banco Popular is condemned to refund the amounts that are proven to be deposited by the agent Atlas International in the developers accounts opened in the Bank. The judge in Alicante cites the Sentences of the Supreme Court that contain the doctrine relating to these claims.

Interest was awarded from the date of payment of the off-plan deposits to the developers account and legal costs were also imposed on the Bank.

Field of lavender in Brihuega (Guadalajara. North of Madrid, Spain)

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