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Legal tip 896. New! Bank condemned to pay by Law 57/68 in Herrada del Tollo case
31 January 2013 @ 18:18
Recent Court Decission won by the CostaLuz-DeCastro team where bank needs to refund our client out of provision 1segundo of Law 57/68. Developer: Herrada del Tollo.
There was no individual Bank Guarantee, no General Bank Guarantee: Bank was condemned due to being the depositer/ receiver of amounts and having not secure the issuance of the Guarantee. Purely due to lack of due custodian work out of Law 57/68.
Two awesome news on same day!
Good! Good! Banks meeting liabilities
María
_______________________
Maria L. de Castro, JD, MA
Lawyer
Director www.costaluzlawyers.es
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Great news Maria!
Looks like things are starting to snowball.
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Yes Fazarelli... looks like that!
And the best of all is that there are awesome oportunities for property buying in Spain with those refunds...
Maria
_______________________
Maria L. de Castro, JD, MA
Lawyer
Director www.costaluzlawyers.es
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Yes, absolutely. I can't wait to look round all the bargains. I've always dreamed of owning a place in Spain and it looks like it's more affordable than ever
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Great news Maria.
Is this case law now, or is this a first instance judgement and could the Bank appeal this decision?
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I would imagine that the bank could appeal, as it seems it doesn't matter how clearly guilty you are, you can always appeal.
I think Keith has a similar situation to this, and some may say that it is just a delaying tactic by the banks. Or others are worried that case law may not be established (in the property purchasers' favour) because the judicial system won't be able to resist the rewards of corruption. The delays (for appeals) only serve to increase that risk.
Then again, the bank (in this case) may decide to pay out, as many already have.
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We should ALL keep the pressure on the Banks to fulfill their legal obligations, and to keep the educative process alive.
All the more reason for the powers that be to take notice of Keith's BG petition. www.bankguaranteesinspain.com
I live in hope.
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Great news Maria - I wish that the news for Medina Golf in Granada would be the same - we are 3 years down the line and still no closer to a resolution it seems.
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Did the Bank appeal this decision?
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Let me check and get back to you on this
_______________________
Maria L. de Castro, JD, MA
Lawyer
Director www.costaluzlawyers.es
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This is great news, I only wish this could be applied to all cases. We paid our deposit , we have receipts to show it went into the BBVA. NO BANK GUARANTEE THOUGH. Marie , You won our case after 6 years and yet the same bank who took our deposit were also served with a court writ for them to repay us our deposit back from an identified account of the builder, but the bank held out for 2years ignoring the courts until the builders finally went into Administration. The Banks still rule the country. I do wish people would stop saying we need to keep up the pressure, how can we? We depend on our Solicitors and Litigators and Case Law and just keep hoping and praying for a miracle. DEVASTATED
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M11
Please can you write to MEP Brian Simpson and your own MEP (via www.writetothem.com) about this, as Brian has been in touch with President Barosso (European Commission) and ALL of these instances need to be reported back.
Ask also that this be reported back by your MEP to the World Justice Project who should be kept aware of this abusive behaviour.
The European Union Commission have to recognise how using the member states system of justice(Spain) in this instance is being significantly compromised not only by the Banks behaviour but sadly also in a growing number of instances by inconsistent judicial rulings and extraordinary delays, as the Banks in the main appeal as a matter of course.
Only when people consistently communicate these instances will we stand any chance of reform/action in terms of external pressure on the Spanish Banks.
Why do you think I keep pushing for Keith Rule's recommendation for a fast track system, ombudsman, specialised courts as identified in his BG petition www.bankguaranteesinspain.com ? This is a total disgrace and EVERYONE have to wake up to some very uncomfortable realities and be far more pro-active in their approach to this major problem.
Has your Lawyer reported this back to the relevant Spanish Authorities? If not insist that they do so on your behalf.
Goodness knows how many unaccounted-for deposits from abusive Bank Guarantee failures are now in this black hole.
I agree M11 it's totally unacceptable.
This message was last edited by ads on 07/06/2013.
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Yes, thanks Keith.
No surprise there then! 
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Hi Ads, thanks for your reply. We certainly did write to our MP and MEP but both said it was outside their remit. We will certainly try Brian Simpson. Anything is better than just giving in. Thanks.
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