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16 May 2016 09:48 by annm Star rating. 44 forum posts Send private message

Wonderful news that the Banks and insurance Companies have to pay everyones money back plus interest and costs.

We have already won our case Banks have apealed and lost. Justice at last but as it been worth the heartache over the past 10  or 11 years. 

Ann.


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16 May 2016 14:53 by broph Star rating. 147 forum posts Send private message

Please can you give a little more detail because I'm not sure whether you refer to the Law 57/68 or something different.

you say that your case went along for over 10 years. How long did it take from the time you started your legal action to the time you won your case. . .? 

Which court or region of Spain are you referring to ?

Also , I'm aware that lots of other people have won legal cases against Spanish developers and Spanish banks but it appears not so many have actually had their money refunded because the banks and developers are able to lodge appeals and continue delays in giving back clients monies.

thanks




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16 May 2016 20:12 by annm Star rating. 44 forum posts Send private message

It follows a supreme Court ruling last year telling Banks  to pay investors back  for the deposits they paid.

On BBC news this morning it says up to 100,000 UK investors who lost money when the Spanish property market collapsed could be in line for payouts.

You can read it on the internet.

It was Murcia Court that  our case was heard.

Tha Bank appealed but lost.

We are still waiting for our money I am confident we will get it back hopefully soon, as they lost the appeal in April.

Maria started the proceedings two years ago.


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16 May 2016 23:15 by broph Star rating. 147 forum posts Send private message

If only what is broadcast by BBC was factually correct.

Yes, there was an important Supreme Court ruling last year , which is encouraging news, however my understanding is that there is still some way to go along the Spanish legal pathway before the Supreme Court ruling has the effect that we  all desire. There is no consistency with this as can be seen by the varying judgements made in different courts across Spain in which some are awarded legal costs and interest and some judgements decline such or part of such costs.

It is one thing winning the case, and it's another thing getting money back into your account.

Maria has commented previously on this very subject

In the meantime the banks are allowed to continue their appeals and deliberate delaying tactic and we are still waiting.

We await our day in court this coming October and our episode has also been running for 10 years now.

 

Best Wishes

 


This message was last edited by broph on 16/05/2016.


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17 May 2016 11:27 by kingdingaling Star rating. 27 forum posts Send private message

As I understand it Broph is correct, unfortunately for us this is far from sorted out, it's still clear as mud.




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17 May 2016 14:17 by Keith110 Star rating in the UK and I am lead.... 682 forum posts Send private message

I have seen the BBC news feature and also the written article relating to it.

The news was given to the BBC by a company called Spanish Legal Reclaims.  It is a company that specialises in Inheritance Tax Refunds.  But now, since the Supreme Court ruling of 21 December 2015, it appears that this company now specialise in Off-plan Property Refunds.

The news feature and article makes it appear very simple………….it says:  "The Supreme Court said that financial institutions are obliged to repay that money to buyers, if a developer disappears or is bankrupt."

So it makes it look like that if you have a contract for an off-plan property you just need to apply to get your money back.

It is not quite as simple as that, but it is true that in 2015 & 2016 the Supreme Court has clarified many aspects relating to LEY 57/1968.  This is all very positive for these types of cases.

Amongst many other statements the Supreme Court Sentence dated 21 December 2015 says:

‘In house sales governed by Law 57/1968 credit institutions (banks) that receive income from buyers in the promotor’s account without requiring the opening of a special account and the corresponding guarantee or warranty, shall be liable to the buyer for the total amounts paid by buyers and deposited in the account or accounts that the developer has opened in such entity’



_______________________

LEY 57/1968
CLICK HERE FOR THE BANK GUARANTEES IN SPAIN WEBSITE

       
      

fpag@btinternet.com



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17 May 2016 22:51 by broph Star rating. 147 forum posts Send private message

Thank you Keith for your informed update and clarification of the present legal position.

Albeit that the legal processes role on and there is considerable court backlog, This is a very encouraging step forward for the many people like ourselves who hitherto, have had no prospect of ever recovering substantial deposits paid for off plan property.

You and the other legal teams involved in this process are to be congratulated on the integrity and determination that you have all displayed in taking this issue to its present position.

Thank You




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14 Jun 2016 21:03 by vcolvill Star rating. 27 forum posts Send private message

Hi all

THE NIGHTMARE CONTINUES FOR US, 11 YEARS & COUNTING…

We Heard from out solicitor today that Banco Popular have appealed against our court case that was won in February despite the supreme court ruling I keep reading about!  I don’t understand all this Spanish Legal mumbo jumbo anymore unless I’m missing something?  If the Supreme Court decision is absolute, then how can and why have Banco Popular Appealed?

When is the Sentence declared firm and final?  Has anyone else had court case won and had money returned from Banco Popular? We’re completely devastated by this, as we thought we were seeing some light at the end of the tunnel!

Regards

Vic

 

 

 

 




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Previous Threads

Appeal Court of Murcia confirmed th responsability of Banco Popular to pay the money back for the purchasers at ACC - 31 posts
cam bank -almanzora country club money return via pilar alonzo - 3 posts
Case won - 7 posts
Fingers crossed everyone! - 8 posts
appeal - 0 posts
NEW SUPREME COURT RULING on 15.12.15 - 0 posts
NEW! WON CASE in FIRST INSTANCE COURT AGAINST BANCO POPULAR FOR OUR CLIENTS WHO PURCHASED OFF-PLAN PROPERTIES FROM THE DEVELOPER HUMA MEDITERRÁNEO S.L. AT ALMANZORA COUNTRY CLUB - 20 posts
NEW! WON CASE in FIRST INSTANCE COURT AGAINST BANCO POPULAR FOR OUR CLIENT WHO PURCHASED AN OFF-PLAN PROPERTY FROM THE DEVELOPER HUMA MEDITERRÁNEO S.L. AT ALMANZORA COUNTRY CLUB - 34 posts
Important Meeting in London For Those Still Awaiting the Return of their Huma Mediterraneo Deposits - 12 posts
What defence do the Banks have? - 1 posts
NEW!!! SUPREME COURT STATES BANKS LIABILITY FOR DEPOSITS UNDER LAW 57/1968 - 4 posts
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
Court reports - 19 posts
BBC Inside Out report programme - 2 posts
Some help needed !! - 2 posts

8 posts were found:


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