How Many. How Much. When

Irrespective of if they had BGs or not, how many people do you know have had money back.?
What %?
Before or after May 2008?

Personally, Ive only heard of two but they started the process before Administration.

Hi

A friend of ours had become tired of waiting for delivery of two properties, expensive ones, on Albatera....around this time last year.

They were given a date of return of money...without interest....and San Jose behaved very honourably and stuck to the date and paid them back on the alloted date.

Only case i know of though...apart from ours of course where we were given a pay back date, which fell after the admin started.

Brian

Hi Briando, Did SJ have an off day which made them behave honourably? Hope they have a few more and give me my money back! Cheers Joanniemac

So anyone exercised any rights under the terms of a BG?

I'm surprised you're not aware that you have to have your contract resolved before you can proceed to execute your BG.

I'm surprised you're not aware that you have to have your contract resolved before you can proceed to execute your BG.

Yes, so? "any rights"

I think those with guarantees are all still in the process of obtaining  their resolutions .With around 400 lawsuits it will take a little while.

So your belief is that to date, nobody has found right or has had a right, under the terms of their BG, to make claim and be successful in claiming against their BG?

As i've said you have to obtain the resolution of your contract  through the court, then you are in a position to execute your BG.  

The question here is which is the best way  to resolve your contract , through the courts or through the  developer / builder  ? I know the answer just wondered how many others realised the difference in doing it each way. Could make a huge difference to end result .

 Hello julie Ann

I would have suggested it was far better to do it via the court and sue the bank at the same time. I would also suggest that it is worth doing it through the court to ensure you get privaleged creditor status. If you are going to do it through the court however then I would suggest you sue the bank at the same time or you may have to go through the process again!

The developers should not be trusted to do anything and worst case scenario you could end up resolving your contract and becoming an ordinary creditor with still no bank payout.

taxi parrots..out of interest did you also sue the bank? My concern is that where contracts have bee resolved banks are still not paying back.

PS I understand the figure to now be far in excess of 400!

Joanie666,

No i am not sueing the bank at this stage.To do so would mean a longer and more expensive court process. Only if the bank is foolish enough not to honour its guarantee would i sue. It would then cost them dearly as my lawyer will use every legal weapon against them. However my bank  has given no indication it will not  pay.

taxiparrots                                                                                        

hi

just had an update from my agent, and it turns out even those of us with BG are up the swanny. WHAT A SUPRISE, APARENTLY SJ DONT HAVE ENOUGH FUNDS TO COVER THEM.

so we may only get a percentage and after legal costs will end up with not alot. seems BG are not worth the paper  their writtren on.

I may have this wrong, but i feel i have been mis-sold, mis-led and generally shafted by all concerned.

 your agent has misinformed you. San jose do not have to have the money for you to retrieve your bank guarantee money. that is the whole purpose of a bank guarantee to save your funds in exactly that eventuality

I would suggest you stop taking legal advice from your agent and hire yourself a decent lawyer. maria has just posted that she has managed to get someone their money back within two and a half months.

Well done Maria..lets hope that means we will all be so quick

Joannie

This person with the refund.....is it from Herrada or from Ssn Jose. invers...........and is it through BG or not, during the administration or before.

Do you know??

Brian

 Hi Briando Dont know anymore info .I have posted a request for Maria to expand on the info if she can JA

Cheers JA

PM me when you find anything out please..........