AIFOS STILL TRADING

Thanks for the updates.

Well done Mike. Sounds promising.

Get your lawyer to check/confirm if the interest stopped accruing from the date the court received your principal amount from the Bank when it was presumably provisionally enforced. Also to identify how long ( what is the norm for your court region) before you will receive return of interest and costs.

Good luck.

Hi all,

Our case finally went to the Supreme Court and we have just heard that we have won!

We await details of interest/costs but have been told it will date from the date of the deposits to the date of the return of the principal funds.

Watch this space!

Great news Mike.

Has this now established SC DOCTRINE for return of interest to be backdated to date of deposit up to the point that principal monies  were returned to the court, or is this the first SC ruling in this regard?

Please can you keep us posted also with regard to the award of costs.

So pleased for you.

Hi again,

As far as I know , it’s “standard” in such cases to award costs and interest where there is perceived culpability as in this case. Spain is strange though as they don’t seem to work on a precedent basis looking at each case on its own merits.

The Supreme Court has already ruled on loads of cases like ours so I am amazed the bank has thrown away money on  appeals.

I’ll let you know the final outcome,

al the best

Mike

I agree Mike.

The Banks appear to be intent on obstructive ploys, trying every possible route in denial of their financial obligations according to existing law, now clarified by a growing number of SC rulings. 

But in that process they appear to have compromised the justice system.

They appear intent on using the system to generate continual elements of doubt ( disrespecting SC rulings in that process), in the hope that award of costs could be compromised during the interim lengthy periods prior to final rulings, but also their intent appears to “wear down” claimants by growing delays that ironically their actions of proliferating appeals have perpetuated.

Sadly 16 years post deposit and litigation covering all too many years demonstrates what many who pioneered for justice are up against. I.e. those whose interest elements are now relatively significant.

The only solution to this appears to be continual whistle blowing of the uncomfortable realities, for far greater transparency, in the hope that the Spanish Justice system recognises the need to become better protected from such cynical ploys, in full recognition of the Banks bad intent to undermine the rule of law.

I fear an even more cynical element. Given that most buyers are at the retirement end of the spectrum, there must now be a significant number who have shuffled off this mortal coil while waiting for “justice”. I suspect the banks have weighed up the risks and decided time is in their favour.

on the other hand, we bought a different apartment and have now lived here for nearly 8 years and despite the frustrations we wouldn’t go back to the Uk( Brexit permitting!!!)

Hi Mike
Well that sounds like great news, but will only believe it when it's in your account!  My case is in Maria's good hands now, so keeping everything crossed. It's about 15 years now since putting down our deposit and winning our case against Aifos a few years after when they went bust during the delay between getting our case accepted and getting it heard.

Hi,

We’ve already had the principal sum back and even after the success fee was deducted, we are even because the exchange rate has shifted so much in 16 years.

Interest will be icing on the cake but at least we have the cake back already!

Mike

Mike

Great stuff and well done to Maria and team for seeing this through.

Good luck Goodstitch! 

Just to clarify-  we didn’t use Maria.

we used Antonio Jurado and Juan Manuel Colomina in Fuengirola

Mike

Hi Mike

Sorry about that, I just assumed you had used Maria and team. Well done anyway to the guys you used, it gives us all some hope of justice.

** EDITED - Against forum rules **

This message was last edited by fawaris on 21/08/2019.