Generic Bank Guarantees released - Lack of habitation certificate in time entitles purchasers to recover their deposits from Banks

I would like to inform all those purchasers in El Pinet that Generic Guarantees signed with San Jose by BBVA, SGR and Pastor have been released and, therefore, any buyer who hasn't completed the property yet is entitled to claim the aforementioned banks for the refund of the deposit even if they are not holders of an individual bank guarantee.

Several Magistrates' Court are sentencing Banks to refund deposits under the provisions of generic bank guarantees. The last sentece was issued this month by the Alicante Magistrates' Court (Audiencia Provincial), who senteced the bank SGR to refund deposit plus legal interest and defense cost to a buyer of Santa Ana del Monte (another development from Grupo San Jose).

For your information, our firm is preparing a class action.

Kind Regards

Guadalupe Sánchez. Lawyer
GM LEGAL EXPERTS

YEAH! YEAH! YEAH!

Same old, same old!

Who put PAIN in SPAIN?

 

This message was last edited by 9_Palms on 01/03/2012.

 

Fingers crossed appears to be all systems go at El Pinet. Work is progressing on the M1 Apartments and electricity sub station.

See article in this weeks on line copy of Costa Blanca News. Hopefully there is light at the end of the tunnel.

 

That very positive news Vegabond.  

Lets hope they keep the momentum going to finish the whole site this year.