What defence do the Banks have?

What I don't understand about this whole issue is that it is rife in Spain so why does the Government not intervene. There is no other epidemic that would be ignored like this. When the PPI scandal hit in this country it was Immediately investigated and rulings put in place that the Banks had to adhere to, they weren't allowed to ignore them and as a result people are getting their money refunded without going to court to wait for a decision.......what decisions are they waiting for!!  Some people got bank guarantees some didn't all from the same banks so where did the lack of understanding come in as to what the money was for?! The building account would have a been a huge account with the Bank they would have known alright that the money needed to be protected but I guess they were doing the builder a favour and releasing the funds only now to find it has all backfired on them. So......one investigation on each Bank involved will tell them all they need to know!!  No courts neccessary.

Everyone agrees with Gales post and from UK perspective that is how it should be but Spain's economic and political structure is not as advanced as our and it has only been moving towards consumer protection since 1975 when Franco died whereas ours has been moving in that direction for centuries!

Having said that and after the recent Supreme Court decsions there seems to be a feeling amongst the lawyers that the issue is nearing to a similar position as PPI in UK

One example is that the lawyers specialising in BG issues are getting close to offering a genuine  'full no win no fee' service to buyers who have all the correct documenation   

Also in UK PPI case the Banks held off as long as possible until the UK economy was starting to recover and the Banks could afford to settle

Spain is forecast to grow by 3% in 2016 and their Banks are getting financially stronger so perhaps we will see a change in their position in 2016 and they will start to settle BG legal actions so that they can clear their bad debt book and move on

However if you have all your documents and have not so far consulted a lawyer , now is the time to do it and I would even say that now is the time for 'everyone' who did not receive a BG fro ACC to get involved and instigate a legal action and keep the pressure on the banks

There are two main approaches:

Instruct your own laywer who will charge the fees in the normal way where there is of course a risk you may lose and incur costs but this way if you win you should get a full recovery

or

Instruct one of the firms offering a 'no win no fee' service where you will not be at risk for cost if you lose but their fees,if they win, will generally be higher [ even if you are awared costs ]  so your net recovery may be less

The route you take depends on whether you are 'risk averse or not'

But the first step for those just starting out is to get your papers together[ original contract, bank transfer records of your deposit and deposit acknowledgement which Huma sent to everyone when they had received payment] and go to speak to a lawyer

Keep the original documents until you are happy to instruct them so scan them so that you can put them on a memeory disk or CD to give to the lawyer whilst he advises you

If everyone who paid a full deposit takes legal action then I suspect Banco Popular, and the others, will take more notice