NEW!!! SUPREME COURT STATES BANKS LIABILITY FOR DEPOSITS UNDER LAW 57/1968

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29 Sep 2015 5:59 PM by LucasAsociados Star rating in Almeria. 124 forum posts Send private message

Through a landmark decission, the Supreme Court has just stated the banks liability under Law 57/1968 before the buyers, confirming their obbligation to refund the deposits paid for non-built properties.

The case at hand, quite usual in our days, off-plan buyers paid the deposits agreed with the developer in advance, but they didn't get an individual certificate of guarantee (or BG).

The developer had signed colective insurance policies with  the banks BBVA & Banco Popular and with the insurance company SGR to cover the refund of deposits in case the properties were not built or not finished in time.

The banks refused their liability arguing that they only covered those buyers in favour of whom they had issued individual cettificates.

The Supreme Court states in this landmark ruling that the right to be refunded comes out not from the individual certificate, but from the policy itself, and that any off-plan buyer comes under the cover of the colective insurance policy just by paying the agreed deposits.

This is great news for all those buyers who saw their monies fly away when the developer went into bankrupcy (many cases in the latest years, such as Trampolin Hills, Santa Ana del Monte, Aifos, Fortuna Hills, La Tercia Real, etc.) and the properties were never finished (sometimes, even not started to be built), that now can claim their money back, with the support of a landmark decission from the Supreme Court.

Even though, this line of reasoning has been held in the latest years by our Firm (and others), bringing succesful legal actions against those banks receiving the funds.

After several favourable rulings (many of them yet executed), it's a big support that Supreme Court confirms this, understanding that the mere payment of the agreed amounts puts the buyers under the protection of the policy, as this kind of guarantees are considered as a collective insurance. 

This should encourage all those off-plan buyers of Almanzora Country Club not claiming yet to do so, and will give peace of mind to those already in the process awaiting for a decission or the confirmation of the one they had.

Find below a link to the relevant piece of news and also to the full text of the ruling:

http://www.legaltoday.com/actualidad/noticias/el-supremo-dictamina-que-la-falta-de-un-aval-individual-en-las-polizas-colectivas-no-impide-estar-asegurado

http://www.poderjudicial.es/search/doAction?action=contentpdf&databasematch=TS&reference=7479879&links=Ley%2057%2F1968&optimize=20150929&publicinterface=true



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E. Lucas Read my blog http://www.eyeonspain.com/blogs/lucasasociados.aspx


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30 Sep 2015 11:46 PM by ILostMySensaHuma Star rating. 90 forum posts Send private message

Lucas

one more report for you. http://www.eleconomista.es/legislacion/noticias/7034857/09/15/El-seguro-colectivo-esta-vigente-aunque-falte-el-certificado-individual.html#.Kku8e0a8JVMPppM

Do you know what the collective policy was that BP had on ACC?

grateful for the policy details if you have it.




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05 Oct 2015 4:41 PM by kf Star rating in kings lynn. 2 forum posts Send private message

We have just heard from our solicitor in Mojacar that Banco popular have not appealed to our deposit refund in the Murcia courts.We are now awaiting for the bank to pay our money back to the court account.This is excellent news for us after our 10 year struggle.

This proves that there is hope for people with no bank guarrantees

We would highly recommend Davies Solicitors (Ignacio Pellicer)

 

 

 




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05 Oct 2015 7:42 PM by LucasAsociados Star rating in Almeria. 124 forum posts Send private message

Dear ILostMySensaHuma,

I don't have the details of the policy right here for ACC but it was signed with Banco Popular.

As soon I have the details, I'll let you know.

By the way, thanks for the link

 

Kind regards

 

 



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E. Lucas Read my blog http://www.eyeonspain.com/blogs/lucasasociados.aspx


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05 Oct 2015 7:52 PM by LucasAsociados Star rating in Almeria. 124 forum posts Send private message

Dear kf,

Congratulations. We hope yu get your money back within the following days.

It would be desirable that, as in your case, banks would come up to agree paying and not making longer the claims by appealing.

If they don't, we'll keep on fighting to the end, as we've been doing these years.

Kind regards

 

Emilio Lucas



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Previous Threads

bank guarantees - 1 posts
Buying off-plan comes more risky. Law 20/2015 abolishes Law 57/1968 and modifies Law 38/999 - 1 posts
Clients affected at the Almanzora Country Club Development (Huma Mediterraneo), get the money paid back from Banco Popular ( No bank guarantees). - 42 posts
NIE number - 2 posts
NIE number - 0 posts
tom8922 - 1 posts
money back - 30 posts
Lucas&Asociados prepares class action against banks for lack of BGs in ACC - 15 posts
White Baos Lawyers wins a Class Action against banco popular (HUMA) for several British families who had no individual bank guarantees ( no win no fees) - 4 posts
Preparing a Class Action against Banks for lack of BGs - 3 posts
CREDITORS CONFERENCE APPOINTED FOR 1ST JULY 2014 - 3 posts
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BBC Inside Out report programme - 2 posts
Some help needed !! - 2 posts
urbalex abogados NO WIN NO FEE - 3 posts
MOREO AVILES Abogados Lawyers NO WIN NO FEE - 38 posts
Money Back At Last - 12 posts
WHITE BAOS LAWYERS PRESENTED THEIR FIRST CLASS LEGAL ACTION AGAINST HUMA MEDITERRANEO - 27 posts
North West UK Notary Required for Power of Attorney - 1 posts
money received back today & in my bank - 9 posts
CAM Bank, Finca Parcs Action and White-Boas - 2 posts
Huma Mediterráneo in Administration - 63 posts
Huma, Banco Popular and Law 57/68. New case won - 20 posts
General Bank Guarantee Found. Action starting - 5 posts
Case won against Huma, Banco Mare Nostrum and Banco de Valencia - 26 posts

5 posts were found:


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