Banks sentenced to pay 800,000 euros plus interests to several purchasers of Santa Ana del Monte who never got individual bank guarantees, as a result of a class action lawsuit

SGR & BBVA have been sentenced to pay about 800,000 euros plus legal interest to several purchasers of Santa Ana del Monte (Jumilla), who joined a class action lawsuit over enforcement of generic bank guarantees, as the court understands that the lack of delivery of individual bank guarantees can't limit the purchasers' unwaivable rights established in the 57/68 Act.

More info on: 

www.gmlegalexperts.com

http://gmlegalexperts.blogspot.com.es/2014/05/gm-legal-experts-won-case-caso-ganado_27.html

Kind Regards,

Guadalupe Sánchez

GM LEGAL EXPERTS

Hi Guadalupe 

well done on the great news 

we also won our case in May and received most of our money back

but now we are waiting on the Supreme Court to decide if any interest 

or legal costs will be paid to us

do anyone know how long more this will take ?

ive heard some people are already waiting over a year for this decision

thanks Sandra

Hi Sandra

Have you received your money back yet, and you can actually spend it?????

if so, how long did you have to wait for it

regards

Hi

we initiated our lawsuit early 2012

a year later April 2013 we lost at first instance court because we signed the creditors agreement

we appealed this decision and won the appeal November 2013

yes we actually have our money back since February but only 80% of it until the Supreme court

finally decides for all the cases whether or not we get legal fees and or interest 

All in all it takes about two years except for the Supreme Court decision which we still await 

hope this helps

sandra

Great news Sandra.

we should have our cash back soon

Hi Sandra,

When you say you singed te creditors agreement was that with reference to the vote to allow San Jose not to go into administration?

Many congrats, we are about 12 months behind you!

Mark & Paula

Hi Guys,

were one of the members in the Class action which Guadalupe has won for us.

Just to let you know, as yet we havent had our deposit monies back nor do we know yet what is going on and \ or when we will be (re)paid. Or if it will be a %-age pending appeals....

We too have gone to appeal for Legal fees and interest & are waiting to hear if the Banks have appealed or not.

Spainish courts manjanna manjanna again & again!!

Regards

Nigel & Jo

Hi all

yes the creditors agreement think it's known as the Convenio 

we made the mistake of voting Yes to keep Herrada alive and accept 65% 

of our money back in five years so this went against us at first instance

but thankfully we got that overturned on appeal

It's been a long road and a nightmare at times but keep your heads up

all were waiting on now is the final judgement from the Supreme courts

but nobody has any idea how much further away that is 

regards Sandra

Just received notification that the banks have appealed. To be fair to our solicitor, they was expecting this but hoping they can now apply for enforcement of the provisional judgement and the appeal hearing with the magistrates will be a matter of months instead of year/s.