Getting our money back

Hi all

I am a new member to the forum and about 4 years ago myself and 3 other friends went over to Spain on a viewing trip with Parador Properties, we all decided to leave deposits on 4 seperate 2 bed  apartments which obviously never materialised, we all had bankers guarantees and earlier this year we all decided to take action on Huma (because the solicitor in Spain was useless).

Through a friend we instructed a law firm here in Liverpool (DWP) who then assigned us to a Spanish Lawyer within the same firm and 6 months down the road we all had our money back (20-25K each) and have all had a fabulous Christmas.  If you require any details I will only be too happy to provide.

Kind regards

Debi

Hi Debbi,

So pleased to hear you managed to get your money returned and were able to enjoy spending it.

I don't think it is too much of a problem with some banks but  the real problem is getting money returned without a bank guarantee. I don't think your solicitor would be able to do any more than ones that are already on the case with the Spanish courts.

Best wishes.

 In cases where there is no Bank Guarantee, there is an action against the Bank which received the deposits and did not secure on the existence of said instruments ( Bank Guarantees or Insurance Policies)

This action is for compensation of damages ( and of course you can consider the claim to be on full deposit plus legal interests)

What is the position where we had a bank guarantee, and the bank refuses to pay, claiming that the money lodged in the bond is gone?

les

 Les: Judicial action against the Bank of course

Hi Maria

Most of us have already lost a lot of money, plus our legal fees, and even won court cases, but still not received our money back. What are the chances of getting our money if we take action against the banks that should have issued our BG's? If we could be certain of winning and actually getting our money back, that would seem to be the best course of action for us, even though it would mean paying out more money. We are very wary of paying out even more money and getting nothing back.

Regards Linda

In many cases, this is the last resort. All the past failed attempts to retrieve your deposit are not infructuous as you need to prove you have no been able to recover your money against the developer, together with the lack of bank Guarantee, in order to start this action against the Bank.

Best regards,

Maria

Hi again Maria

Thanks for your prompt reply. It is something that we can look into should we get no results in the next few weeks.

Kind regards

Linda

Good luck!

Maria

Hi Maria

I would like to thank you for this information which I was not aware of.  We are at the moment awaiting a court hearing

like many others.  It is good to know that there is another avenue if this fails.

Many thanks.

Good luck!

Maria

It seems what the bank are saying is.

The money that was placed as a bond by the builder was over 1 Million Euro.   That money is now gone in repaying clients back their money, in a first come first serve basis...Now the money for the bond is gone so the bank will not pay the money out to anyone....Where do we stand on this?

Les

ACC COUNTRY CLUB

HI MY NAME IS PHILLIP

we would like to know if there is anything other than waiting for our solicitor to get somewhere with our case in  trying to get our money back .we have bank guarantees we bought 5 years ago started procedings 18 months ago .i am sure they are doing all they can but we are at the mercy of the courts and legal system.there must be another way to apply pressure.

if there are any action groups or anything to make me feel like i am doing something please i would appreciate the help

thank you regards phillip

Hi,

Anybody had any experience with Fusters Solocitors? We are with them, currently taking out Court action against Bank & Huma. We have been waiting for court date for 6 months. (we have one BG for our first stage payment & nothing for the second stage payment. - we are currently "in" for 55k Euro + 2,500 Euro in Extra fees to bring about the court proceedings.

Sean,

Yes we are with fusters and have been in a similar position to yourselves,had b.gs for first stage payments which fusters have had refunded with interest,but by the time they took there fees and costs to issue proceedings against huma in an attempt to recover our second stage payments and initial deposits the interest was virtually swollowed up!

To get a judgement a gainst huma for what its worth you are probable looking at up to a year with the spanish court system.

Gary.

The main problem is though when you have a judgement against HUMA you have to find some assets they have in thier name which have a value.  At the moment everyone seams to be struggling to find any.

hi seans and anyone else in a similar position,we seem to be in excactly the same position as you and others,we paid around £50000 plus the deposit 3000euros and now the solicitors fees some 2500 euros we have all the bank guarantees 4or 5 of them we were told we would have no problem getting our money back that was 18 months ago still waiting for the first reading at court,i think we thought this couldnt happen to us and waited to long to start the process of claiming our refund some 4 years its now coming up 6 years in october,we bought with friends but they did not want to wait and pulled out after only 18months once the contract had run out they got there refund by just going down to mazzaron and waited two days,but this was before the shit hit the fan.dont no what else to do but hope the court can sort it out for us eventualy.

anyone with any new news i would love to hear it but you do hear an awful lot of gossip witch is no good to anyone

regards phill

See my post on other thread for info as to where we are....

Andy

Hi everyone, that was scammed by the Almanzora development !!

We payed more fees to get only half of our money back, so we still lost 24k which has left a bitter taste in the mouth. We will never return to Spain, and never put anything in to their economy, EVER.

One forest

There are tens of thousands of people in this situation suffering and feeling (and doing) exactly as you are.

For all those that made the fast bucks from development and property in days gone by  - they will soon have nothing ...........................