Action against the BBVA Bank

We are in the process of trying to get our money back through the Courts against the BBVA Bank for not protecting our money and not issuing the legally required Bank Guarantees.   We have a Preliminary Hearing next October 2014 in the Almeria Court.  Has anyone heard of or has seen a Generic Bank Guarantee to cover the Jumilla Site or has anyone had any success against the BBVA Bank without having an individual Bank Guarantee  Can anyone help?

Regards  

This message was last edited by Margaret and Charlie on 01/11/2013.

Hi

We are taking action against BBVA we dont have a bank guarantee. Our court hearing is in Alicante court in May 2014. When we were given the chance to vote for 65% money back or house we didnt vote apparently this looks good in the court.

We also have to travel to Alicante and be prexent in court for the hearing. Our solicitor does sound hopeful.

Thanks

Hi Hew1

We also voted no to the 65% agreement    We dont know if we will have to appear for our Preliminary Meeting in October. Is this appearance a Preliminary Hearing or a First Instance Court Action for yourselves.   

Hello to All,

Try to stay positive, we have been through the same as you, We voted NO to the agreement and we sued the bank, BBVA, under law 57/68 and used Maria at Costaluz, we were her first success using law 57/68 she now has a few more so there is hope for you all.

We had NO bank guarantee but at the preliminary hearing the bank agreed to pay us back our deposit plus we were awarded costs and interests. This was 2 years ago this month.

BBVA now seem to be trying to delay paying back for as long as possible in the hope people will give up.

Wishing you all the best

Chris and Julie

Hello Chris & Julie

I must thank you very much for answering back to my thread as you are out of this cenario and have your money back so very nice of you to still be involved to help others (this is most appreciated).   

As you are aware I have contacted you in the past regarding HdT, BBVA Bank, Ambusun etc.plus Account Number paid into the BBVA Bank which was special account which they are denying was special   We paid the deposit at the same time and were in exactly the same boat but unfortunately my lawyer was not convinced this was the right action to take and was not very sure, so we are getting an actual preliminary hearing next October. You have been most fortunate to get a Lawyer that took you seriously at the time, unfortunately I was not, hence the delay.  

I think in your case they relented and hoped every other claimant would go away.  I think there is Generic Bank Guarantees out there and full refunds must be made on these cases. 

I will never give up to get my deposit back as the Bank should have protected my money under Law 57/68.

Charlie and Margaret

Hi All,

I now have also joined the fight and asked GM Legal to represent me in my claim for a refund against the bank.

I was not given a bank guarantee (only generic like many others) and voted  NO as it will not hapen, and after 8 years or so have had enough.

I was told voting NO helpsmy case and as soon as a few more  (3-4) ask to join the classs action to reduce the cost and legal fees it will be put to the court.

Others have won, and while it will cost a bit more of your hard earned it's got to be better than loosing it all.  My investment was about 60,000e.

Send me a pm for more info so we can start an action in the new year.

recardo

HI All,

My last post asking for investors wanting to join me in a class action was 20 days ago. Just shows how  things have slowed down with no other postings since then.

I received a few pm's from others that would like to make a claim for their deposits back.  Some who had voted YES to the developers preposal to contine, some like me who voted NO.

If you voted NO and are now in the possition to join me in a class action against the Bank send me a pm or contact GM legal for more information.  At present we number 3 but would lihe 2-3 more people so we can start a class action in the new year.

Enough is enough so let's make 2014 a turning point and get our money back.  I hope you will join with us.

Regards

Recardo

Hi broph,

Good luck with your case, I hope there is no problem with you and the others in your class action getting a refund with interest.

Cases have been won so can't see why a court should refuse.  We did everything right, lawyers contract etc,,the builders are in breach (no property in the time frame), and the banks did not protect our deposits as required by Spanish Law. Time may be the problem as it may take 2 years to claim with the Spanish law being so slow the Banks may find a loophole to avoid paying thousands of investors.

The builders are supposed to start paying towards the 65% refund in 2015-16.  If at that point there is still no developement (still can't see it happening,as no planning permison yet), and the builders go bust what will everyone do?  What will the Banks then do to try and protect themselves?

Class action cannot start untill there is enough people in the group, can do it on your own and pay all cost yourself, so contact Guadaloupe and join me for justice in 2014.

Hi,    i've just asked DWF solicitors in Manchester to commence proceedings against BBVA for refund of my deposit.  I have no bank guarantee and voted 'NO' to accept HDT's proposal.   One thing that in a fair and just world would have been resolved by now is that once any judge in Spain has ordered the bank to repay someone's deposit then they should repay deposits to every single depositor who asks for their money back.  Why should every individual have to go through the whole court circus?  Having to spend a small fortune in legal fees and having to wait for several years surely doesn't equate to justice however you look at it. It simply isn't good enough for anyone to say 'well that's the way it is'. A legal decision has been made and a judicial precedent set which forces the bank to repay deposits for this development at Santa Ana del Monte so why doesn't that cover all depositors?  maybe all our solicitors should ask the judge who made the initial decision to include all genuine depositors?  doesn't the original decision cover every instance?   anyway,  good luck to everyone fighting for justice in this pantomime. John

Hi John,and Hew,

I have read on this site that UK solicitors have had no luck winning cases in Spain, so i wonder why you have not approached a Spanish laywer to represent you.

There are a couple of well known ones on this site who have won refunds, is there any special reason why you have not concidered them?  As I am asking outhers to join me at present I would like to know the reasoning behind your choice.  Maybe they just live local to you?

Why would you have to attend a court case and face further expense, or is this also a requirement of the spanish courts.  As i have signed over Power of Atorney to GM Legal I hope I don't have to attend, they should be able to represent me in court!

I also agree with John as a president has been set refunds should be automatic but that would prevent the courts taking thousands of fees!

Good luck with your cases I hope we all get justice,

Hi Hew,

I'm glad you are taking action and wish you ever success.  Not sure what you disagree about the fact that I have read about people and had mail from people who said they used UK lawyers and got no where is fact.  Not an opinion so nothing to disagree with me on.

Not saying UK lawyers will not get refunds only heard the opposite.  If any one had said 2 months ago DWF in Manchester are great I would have contacted them.  Only going by what others has said on this site so contacted GM legal who I have read about on this site and got results.

I do not know the company personally, never met anyone there or spoken on the phone.  I don't represent them or personally met anyone who have used them or got a refund.

I chose them from this forum and paid my fee to start an action because of reasons listed previously, I want a chance to get my money back befor it all crashes.

The fist court case may be 12-18 months down the line as you say, and with hundredes more applicants may be 3 years. This is Spain.  I'm hopefull that with a couple more people in my action the hearing will be about 6 months time june July before it all shuts down for summer.  I whant to be at the front of the que.

Hi Alantracey

Merry Christmas and a Happy New Year and congratulations on getting your money back all those years ago we are also with DWF and are awaiting a prliminary hearing in October 2014.  We presume you had a Bank Guarantee which was successfully executed.  As for ourselves we had no individual BG so will have to go through the slow, slow, slow process of getting our money back 

Margaret and Charlie