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El blog de Maria

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

Legal tip 618. BBVA settling out of Court
18 October 2011 @ 21:07

BBVA has settled out of Court for one of our clients using action against Bank due to lack of Bank Guarantee ( provision 1segundo of Law 57/68) which establishes that Bank needs to verify, under its liability, that the corresponding guarantees exist if they receive advanced amounts in off plan businesses.

Good sign of sensible behaviour by this Bank.

That might be one of the reasons there is no much Case Law for this type of action. They settle Out of Courts once this action is brought against them.

The settlement happened once our lawsuit had been served to them.

So very good news!

Maria

Arcos (de la Frontera)

"Arcos (de la Frontera)", Cadiz, Spain, by Haddhar, at flickr.com



Like 0




5 Comments


Sandra said:
18 October 2011 @ 19:48

That's excellent news Maria.
Let us hope that other banks 'See the light' and pay up too.
Congratulations!!


Keith said:
18 October 2011 @ 19:57

Fantastic news María.

Looks like all the research, pressure and work may just be starting to pay off.

Let's keep going and working hard until we get all the Banks acknowledging the obligations under LEY 57/68 Article 1.2

Kind regards

Keith


Anne said:
19 October 2011 @ 18:28

Well done Maria and team.


Frances Clack said:
27 October 2011 @ 11:11

Congratulations Maria, your hard work is starting to produce results and we all appreciate your efforts.


Jo said:
15 November 2011 @ 13:02

What are the chances of them doing this for other clients? Also how long did the process take from the lawsuit being served to the bank agreeing to settle out of court?


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