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El blog de Maria

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

Legl tip 389. Bank of Spain overwhelmed with claims: go and regulate!
Friday, November 5, 2010 @ 1:25 PM

 

 Bank of Spain received in 2009  a number of 13640 claims : a 93% more in respect to 2008. 53% about  Banks and 35% About Saving Banks ( Cajas de Ahorro)

Many of them are of course related to the execution of Bank Guarantees of Law 57/68.

As very well say my friend Keith Rule, it is Bank of Spain´s liability the lack of regulation on Bank´s liabilities out of Law 57/68. Both when there is a Bank Guarantee and when there is not.


It is about time. How is that petition going Keith?

 

Alhambra by Joao Maximo af Flickr.com



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9 Comments


Depressed said:
Friday, November 5, 2010 @ 1:16 PM

I can't really see what difference the petition (which I have signed) or any other action, will make if the banks just ignore any court judgement against them, as has happened in our case. I thought at least that the banks would have to acknowledge the court's ruling but they are supporting all the criminal developers and builders by simply doing nothing and holding on to their ill gotten money. I have lost all faith in the Spanish Justice System, it has no teeth.


Maria said:
Friday, November 5, 2010 @ 1:23 PM

What is your particular case? Of course a Bank, as any other subjest of commercial, legal and judicial trade canot ignore a Court decission.


Depressed said:
Friday, November 5, 2010 @ 4:08 PM

This is a recent email:
To be perfectly honest the courts have indeed dispatched the seizure order against the developers bank accounts a considerable time ago. However, they have not advised regarding any money recovered as to this date. We have filed petitions to the courts asking for the seizure of some other
developer's assets, namely properties so that they can be auctioned to raise the money to refund your money accordignly. This seizure order has not yet though been issued by the courts.




Maria said:
Friday, November 5, 2010 @ 8:11 PM

Best advise is to ask liabilities against the Bank which received your deposit.


Ed said:
Sunday, November 7, 2010 @ 12:38 PM

Many (not all) Spanish courts are notoriously inept and/or corrupt, and nothing is done about them by those responsible. You should determine the cause of the delay, by talking directly to the funcionario who handles your case in the court. The courts (and others) routinely ignore court orders when there is some interest on the part of the court (friend of a friend, etc). They issue the orders to make the paperwork look correct in case you appeal, sometimes they don't even NOTIFY these orders. If that is your case, you will have a difficult time obtaining justice.

If the court employees are simply inept, you will have to be patient and call them once in a while to see where your case is being held up.

We have an example where it took a court eleven months to seize the assets of a father who didn't pay child support as obliged by a court order, and these are supposedly priority cases. It took four months after an interview with the judge in the case, who said that she would take care of it right away! We chalk that up to ineptness, not corruption.

Good luck with your case.



Rambi said:
Monday, November 8, 2010 @ 2:24 AM

Maria,
You say the Banks cannot ignore a Court decision. Does this mean that your two colleagues who won cases in Murcia and Madrid against the Banks will get their clients deposits returned? Or will that just be the start of another legal battle to actually get the money out of the Bank? Who has the most power, the Courts or the Banks? I fear the answer is the Banks who have ignored Ley 57/68 for years thereby tarnishing the Spanish legal system. Spain should be ashamed to have the morals of a third rate country powered by greed and corruption.


Anne said:
Wednesday, November 10, 2010 @ 1:25 PM

Without doubt the delays within the justice administration system are the main stumbling block to receiving justice in Spain. Legal professionals need to step up to the mark and try and resolve these growing instances of injustice. They need to be more pro-active in demanding that the court/government/whoever is responsible for this maladministration/corruption is made accountable. Just as an example it took 13 months between petitioning an enforcement order and it being issued, and during that time the developer illegally asset stripped. We are also still awaiting the judges resolution from the developer's appeal some two years after the appeal was lodged, with no explanation forthcoming. It's a disgrace and the profile of this catch 22 scenario needs to be highlighted for all to see. There will be no confidence in the justice system until this problem of delays is resolved.


mr & mrs greer said:
Friday, November 19, 2010 @ 10:59 AM

we have also been 'caught out' by the spanish CORRUPT legal system - we had a BANK GUARANTEE only to find out at a later date it had AN EXPIRY which we were never told about!!! we have a court case for £30,000 and at the present are another £5000 down trying to fight our case - we can comment on a lot of bad things going on in the spanish legal system


Keith said:
Sunday, November 28, 2010 @ 11:15 PM

Mr & Mrs Greer.........it seems you have not only been caught out by the corrupt Spanish Legal system - but also by the Bank who included an Expiry date in your Bank Guarantee. A Bank Guarantee only expires when the Licence of First Occupation is issued and the property is completed and handed over to the purchaser or the purchasers Lawyer.

Also why did your Lawyer accept a Bank Guarantee which had an Expiry date?

Banks who deliberately acted contrary to LEY 57/68 by including a pre-determined Expiry date in the Bank Guarantee should be reported to the Banco de Espana. The BDE should be bombarded with complaints. They will be forced to act and put an end to this corruption and negligence that has been allowed to take place under their supervision.

Kind regards

Keith




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