VICTORY FOR FINCA PARCS ACTION GROUP LAWSUIT 2 IN FIRST INSTANCE COURT IN HELLÍN

Congratullations, Keith. 

These are excellent news for all investors. 

I'm specially happy as wehave similar situations in Herrada del Tollo waiting for a ruling.

Next step, Herrada del Tollo and BBVA

Congratulations to you, Keith and "COSTALUZ" for their help ... lets hope this becomes a landmark victory which will be followed by many others against the Banks and the "corrupt" Developers (Like Trampolin) whom they have supported. Kind regards Andrew

Excellent result, well done to everyone who saw this through with such determination and professionalism.

Keith I am absolutely delighted for you! 

You have fought hard and WON - and rightly so!

Justice at last - WELL DONE!

Perjinks

Keith I am absolutely delighted for you! 

You have fought hard and WON - and rightly so!

Justice at last - WELL DONE!

Perjinks

Well done keith, we weren't with the Finca Parcs, but with the Almanzora country club. We too recently retreived our funds plus interest from CAM bank. Our lawyer is now trying to help a couple from Finca Parcs, fingers crossed for them. It pays in the end to keep on at these robbing bastards and don't give up. After all it is legally our right. All the best from the rowleys.

Coongratulations Keith - perhaps this will be a milestone for many other people in the same position.

I was interested to read rowley ventura's Posting: I had it in my head that CAM was recently sold (lock, stock & massive debts ) to Banco Sabadell for the princely sum of €1.

Does this mean that Sabadell also inherited all of CAM's liabilities, and they'll have to fork out? 

Does anyone know?

Yes and the liabilities were underwritten by the Bank of Spain so any claims against CAM will be paid  but like all Banks in EU and 'UK' they will probably fight to the end![ as I understand the terms of the  sale of CAM]

it will be interesting to see if CAM Appeal-if they do then the next court fiinding in favour of the buyers will set a precedent[ as I understand the Law in Spain] and that may then 'open the flood gates' for the rest of us with similar claims

But as Spanish Cajas are subject to a review by the top 3 accountants in the world, all these potential liabilities will be taken in to account in the bail out of the Cajas

a bit like UK PPI claims but one still has to fight to get paid

It is one step towards justice!!

Well done Keith, keep up the good fight. Hope you all receive your money back!  Cannot believe it has been going on so long.

It is brilliant news.

Patricia

Spanish Punter

CAM was taken over by the Banco de España last year.  It was then sold for One Euro to Banco Sabadell with future losses underwritten by the Spanish Government.  The takeover by Banco Sabadell was approved by the EU last month.

We are prepared for an appeal by CAM and/or the Developer.  At the moment we have a very strong First Instance Court Judgment which is not Case Law - but can still be used as legal arguments in other cases.  It will also help others in the same situation.

You are correct - if CAM does appeal then an Appeal Court decision will create Case Law which can be used as a precedent in other cases.

At the moment we are one (BIG) step towards justice!!

Finkies

Thanks for your words of congratulation.  See above regarding Sabadell CAM.  As Sabadell now own CAM then I suppose ultimately it will be Sabadell who will paying the 1,494,710 Euros plus interest and costs.

Rowleyventura

Thanks.  I am pleased you recently received your deposit and interest from CAM for the ACC development.  Regarding your Lawyer and the Finca Parcs clients - I would be happy for your Lawyer to contact me if they require any information that may help them with their Finca Parcs case.

perjinks13

Thanks for your congratulatory words.  You are right we have fought hard and we will not give up....!!

Poppyseed

Thanks for your kind words of support.

Andrew Wilford

Thanks for your words of congratulation.  Yes let's hope it will be a landmark victory that will spur others on in their fight to recover their off-plan deposits.  Good luck with your case.

LucasAsociados

Thanks - yes it is excellent news both for us and for others in a similar position.  Good luck with your cases against HDT and BBVA.

Justin

Thanks for your kind words - and thank you for your support over the past 5 years.  Eye on Spain really has helped to spread the word about LEY 57/1968 and the liabilities of the Banks.

Sandra, ads, belucky358, Margaret and Charlie, ChrisBW, pff001

Thank you all for your kind words and for your support over the past few years.

Knowing that so many people have been supporting us has really helped to spur us on.

There were times over the past 5 years when I have felt like giving up on the whole thing.  But I am glad that I kept the faith and kept fighting.

Justice will prevail.

Kind regards

Keith

Thanks Patricia.  Will let you know when we get the money!!  Kind regards, Keith

Congratulations Keith, Maria and everyone else involved in the case.

Hopefully you will get your money back because you took action against the Bank and not just the Developer. I think that is a crucial part of this case because I would imagine a few people have won cases against Developers in the past but still never received any money because the Developer went bust or "disappeared".

I sincerely hope the final outcome rules in your favour and your money is returned (as it morally should be) and I also hope this opens the floodgate for hundreds of thousands of other people to rightfully have their hard earned money returned to them.

It would be really helpful if the European Courts of Justice got involved and sorted Spain out once and for all. 

After reading these particular mails in EOS and indeed many others on wholly less-than-salubrious topics, the most amazing thing that did hit me, and with the impact of a wet paper bag, was just how many non-Spanish people (and some highly intelligent people amongst them) have all the reasons in the world to condemn so many aspects of Spain and so many of their iniquitous systems here.

One person raises a well-worn practice that has virtually destroyed their life, and dozens of others join in and say “and me too” - and in all probability, they represent no more than perhaps 5% of equally affected people.

If the Spanish Government really wanted to sort their financial mess out and join the ranks of the “enlightened“, they should appoint a Minister For Rectifying Scams & Rippings-Off On Foreigners, and subscribe him in to EOS.

But they could never afford to redress all the wrongs - they’d need 500 Billion for that..

It could have never happened in UK, Germany, Ireland, France - could it?

Just my own personal opinion.

 Thats good news,  but lets hope they do pay up.

  A few years ago i won a court case,  against Palmera properties,  and the  former invester,  on a propertyy on  a dev called la perla   on the costa del sol.

  but  despite the court decision for all monies paid  by   me, to be returned  plus interest,  i only got some of the money, as palmera then declared themselves bankrupt,   so i am still owed  ten thousand  euro      and no hope of getting this amount.

 Icannot  understand why the courts  dont enforce their decisions

Hi Keith and Maria,

Well,I think the 20 days that Maria mentioned earlier, have come and gone, and I take it that neither the Bank nor the Developer have appealed, or have I missed that report ??

If they are out of time what happens now ??

Hi 358

I think the court decision was on the 8th June therefore still 10 days for appeal to be lodged ?

daylepel
Thanks.  Exactly.  The crucial part of the case and something I have been advocating for the past 4 or 5 years is taking action against the Bank as well as against the developer.  No point getting a Judgment only against a bankrupt or 'missing' developer as it will be almost impossible to enforce.  So little hope of getting your money back.
A judgment against a Bank is a lot easier to enforce - or should be!!

jay bee

Sorry to hear that you did not get all your money back.  It is difficult to enforce a judgment against a bankrupt or 'missing' developer.  That is why action against the Bank is vital in these cases.

belucky358

The date of the judgment was Friday 8 June 2012.  However, the Judge issued a small clarification to the Judgment on Monday 11 June 2012.  This was just to confirm that ALL costs were imposed on the defendants.

So the time for appeal starts from Monday 11 June 2012.  The bank and developer have 20 working days from Monday 11 June 2012 to pay the principal amount of the deposits to the Court.  They also have 20 working days from Monday 11 June 2012 to submit an appeal if they so wish.

So the date for payment and/or appeal will be Monday 9 July 2012.

If they have not submitted an appeal by that date then they will have lost the opportunity to appeal.

If they have not paid the 1,494,710€ to the court by that date we will then enforce the Judgment which will mean significant extra court costs on the defendants.

disneydog

See above for clarification of dates.



Thank you for your interest.

Kind regards

Keith

Further clarification:

Deadline for payment and appeal is Tuesday 10 July 2012 14:30 CET

Hi Keith,

All eyes are on the enforcement process now whether this be preliminary enforcement in the interim or otherwise, and it goes without saying that if they appeal, the high profile of this case will remain focused on the enforcement process.

Thanks for keeping us all informed.