Aifos showing Bank accounts

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05 Apr 2013 1:21 PM by mariadecastro Star rating in Algeciras (Cadiz). 9354 posts Send private message

Legal Questions? Speak to Maria Direct

 Legal tip 924. Aifos showing Bank accounts to our clients 
05 April 2013 @ 13:11 

Great decission by Malaga Court.

On our aim to produce an action against a Bank receiving off plan deposits, we requested a Malaga Court to ask Aifos´ Judicial Administrators to show accounts.This has been accepted by the Judge considering we have a legitimate reason for that information.

Another sign of how the judiciary is understanding and punishing  irregularities of operating Banks during the off plan boom.

Another reason for celebration.

Cheers,

Maria

 



_______________________

Maria L. de Castro, JD, MA

Lawyer

Director www.costaluzlawyers.es

El blog de Maria



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05 Apr 2013 3:10 PM by ads Star rating. 4039 posts Send private message

Again well done Maria!

Does this then set a precedent for judges to demand relevant banking information be made available, necessary for a BG claim, from original conveyancing lawyers (or developers) who to date have failed to provide the detail of where deposited monies were transferred?

 





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05 Apr 2013 3:17 PM by mariadecastro Star rating in Algeciras (Cadiz). 9354 posts Send private message

Legal Questions? Speak to Maria Direct

Yes, it does set a precedent to be used by other lawyers, in other cases of course.

 



_______________________

Maria L. de Castro, JD, MA

Lawyer

Director www.costaluzlawyers.es

El blog de Maria



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05 Apr 2013 4:19 PM by gaula Star rating in marbella and the u.k. 64 posts Send private message

Maria , my understanding is that every creditor registered in a bankrutcy has the right to see the the accounts of the bankrupt company ., and always has..

 

please feel free to correct me if I am wrong 





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05 Apr 2013 11:12 PM by fazarelli Star rating. 282 posts Send private message

Maria , my understanding is that every creditor registered in a bankrutcy has the right to see the the accounts of the bankrupt company ., and always has..

 

please feel free to correct me if I am wrong

 

You can look at the figures of any registered company but they won't show you bank account numbers.
 

 

Absolutely fantastic news Maria.





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09 Apr 2013 10:50 AM by fazarelli Star rating. 282 posts Send private message

BTW, Maria. When are you starting the action against Aifos' bank? Don't forget to add me:-)





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18 Oct 2013 12:55 PM by belucky358 Star rating in North Yorkshire. 197 posts Send private message

Hi Maria,

Could you tell me if the Malaga Court case has gone ahead in September and if so, were the AIFOS Judicial Administrators forthcoming with the information on the "off plan" deposits banking details ?

Also today I had a telephone message left for me by a person claiming to be from AIFOS in Spain, requesting that I ring him urgently on the following number, however the number he left is incorrect.......0034 952 100 29 200.  Has anyone any idea of what this number should actually be or can anyone give me the correct number for AIFOS.

Cheers





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18 Oct 2013 5:24 PM by fazarelli Star rating. 282 posts Send private message

Belucky

The numbers I have are 952 66 32 99 and 952 12 92 00.

 

I haven't tried them for years though...





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19 Oct 2013 9:00 AM by M11Block Star rating. 179 posts Send private message

I have just been catching up on this thread and was interested in this particular line

Maria , my understanding is that every creditor registered in a bankrutcy has the right to see the the accounts of the bankrupt company ., and always has..

I don't think there was a reply to this question, but I would be very interested to know the answer, also how the public can find out more about companies in Administration and who their creditors are and generally how to access information on their particular case. I have searched the net but can find very little on the Administration/Bankruptcy Process in Spain.

Are there any members who have experienced their Builder/developer going into Administration or Bankruptcy.

What happened to Polaris World? They went into Aministration, does anyone know what happened, did they start up again? Are there any creditors still members on EOS. It would be good to learn from your experiences. Also it would be interesting to hear from any lawyers who can explain the Administration process in simple terms.




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19 Oct 2013 9:11 AM by belucky358 Star rating in North Yorkshire. 197 posts Send private message

Hi Fazarelli,

Thanks for the telephone numbers I will give them a try.

Does anyone know if the court proceedings went ahead in September with the AIFOS Judicial Administrators,( it's just that I have been abroad for the last few weeks )

Cheers





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20 Oct 2013 12:07 PM by fazarelli Star rating. 282 posts Send private message

Belucky,

 

All I know is that Maria has contacted me to tell me that the Admistrators have allowed (or have been told by the courts that they have to) access to Aifos bank account transactions - specifically the payments received by Aifos.

 

Wasn't there a 'Legal Tip' that Maria posted explaining that the courts have instructed the administrators to reveal financial documents/bank details? This was just a few days ago i think.





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20 Oct 2013 6:54 PM by belucky358 Star rating in North Yorkshire. 197 posts Send private message

Hi Fazarelli,

Thats really good to know that from what Maria has told you it appears that the hearing did go ahead, excellent news.

I did request an update from Maria del Carmen Romero about a week ago, but she has not got round to passing on this good news to me yet.   Hopefully she is very busy identifying the AIFOS accounts which have held my money since 2004 !!!

Regarding the Legal Tip that you mention which Maria posted a few days ago ??  I'm sorry I am not aware of this, the only Legal Tip that I have seen on this subject was Number 924 dated the 5th April 2013.

Cheers





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20 Oct 2013 11:02 PM by fazarelli Star rating. 282 posts Send private message

Belucky,

 

Yes. Sorry, it was tip 924 from April that i was talking about - I've only just seen it this week, thought it was a new one.

No, no news has been forthcoming over any meetings with administrators. It's only a matter of time though. Has Maria contacted you for POA? Or do you already have one set up with her? I would imagine that she needs the POA to request specific details from the administrators on your behalf.





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21 Oct 2013 8:41 AM by M11Block Star rating. 179 posts Send private message

Fazarelli and Belucky I have been reading this thread with interest as we are in a similar situation. We won our case in 2010 to get our deposit back, plus interest, plus legal fees, however, the actual money has never been forthcoming from Procobar or the BBVA. Then in December 2012 Procobar went into Administration, and we became creditors. We have no BG and so a claim against BBVA with Law 57/68 has so far not been persude. Can you tell us just briefly, if you have the time, the outline of your case. Did you really put your deposit on in 2004, has it taken ten years to get this far? Have you taken Aifos to Court and when did they go into Administration? Sorry for all the questions but it would be really helpful to us if you could share your experience with us. With regard to following the Judicial process of the Administration and Bankruptcy process this seems almost impossible. As Creditors you would think you would have some access to the process, who are creditors, what figures are involved, what meetings and proceedings have to take place etc. I have searched the net and not found anything helpful. If anyone could provide us with a link to get this information that would be most appreciated.
This message was last edited by M11Block on 21/10/2013.
This message was last edited by M11Block on 21/10/2013.



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21 Oct 2013 4:47 PM by belucky358 Star rating in North Yorkshire. 197 posts Send private message

Hi M11Block,

Yes, our deposits were paid in 2004, however it was not until 2008 that AIFOS finally admitted that after 2 years of lies, excuses and stalling tactics, that they did not have planning permission to build our property.

Our English agent and our Spanish lawyer were a waste of time, they failed to obtain the Bank Guarantee, failed to provide the banking details, and told us lies regarding the progress reports.

In 2009 we change to another Spanish Law firm, who took AIFOS to court and won, AIFOS agreed in the presence of the Judge to refund all our money plus expenses, however we never saw a penny, as AIFOS went into Receivership in July 2009.

In 2010 we incurred further expenses when we were put on the Creditors List and our Spanish lawyer assured us that there would be money to refund all the purchasers, they also said that we were not able to sue the bank as we were not given a Bank Guarantee.

In 2012 we were given a few days to vote on what our lawyer considered was the BEST option,  from the creditors meeting which was as follows:-

1) Once an agreement had been reached............(no dates were given about when to commence).

2) We would not receive any payments for 10 years from the commencement date.

3) On the 11th year they would start the payments and this would continue for 6yrs

4) Upon reaching the 16th year we will have received 45% of all our money.

So, looking at this time line, AIFOS will have had 100% of my deposits for 24 years, and even then, at the end, I will only receive 45%  in return. 

It is only now, with the assistance of Maria, her colleagues and Keith Rule, that we are able to finally get the "powers that be" to accept the Spanish Law i.e. LEY 57/68, which they have ignored for over 40 years.

I hope this is of some assistance .........cheers                                            





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21 Oct 2013 5:51 PM by M11Block Star rating. 179 posts Send private message

Oh my God BeLucky, I don't think we will ever live to see any of our money. Good luck with the Bank Guarantee, I hope things finally work out for you and you have youth and energy on your side to fight your case.



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21 Oct 2013 7:09 PM by fazarelli Star rating. 282 posts Send private message

M11Block,

 

I wouldn't give up hope now, in fact I would be building my hopes up, as this is the time to get justice, as many many others have taken the banks on successfully and are now in receipt of their deposits. Every week there are people on here reporting this.

My case is pretty similar to Belucky's except i paid my deposit in June 2003 - 10 & 1/2 years ago!

If you act quickly you may still be able to get involved in the forthcoming action against Aifos and their bank(s) with Maria.

 

I'm still waiting for a passport renewal before i can visit a Notary in UK to sign power of attorney papers, this will take about 3 weeks and a further 7-10 days for the POA stuff to go through. Hopefully by middle of November Maria will be representing me (any many others).

The way it is going, many banks are settling out of court once they have been issued with the legal papers and have had a think about how much it is going to cost them in legal fees (both theirs and ours). They could be in line to lose many hundreds of thousands in a court case that they have no hope of winning. They will also have to fork out for legal interest (4% at least) whilst the court case is on going. I'm hopeful that once the law suits have been submitted to the banks, they will settle sooner rather than later - maybe as soon as next summer.

 





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22 Oct 2013 11:08 AM by belucky358 Star rating in North Yorkshire. 197 posts Send private message

Hi Fazarelli,

Getting back to my original request regarding AIFOS phone numbers and you kindly supplied  0034 952 12 92 00 which was correct and this morning  I eventually spoke to this person called "Alvaro" who had rung me on 18/10/13.

He tried to explain that I would be receiving all my deposit back plus interest in 10 years time, I told him that I had been told by my lawyer that it would be only 45%, but he stated that the 45% only applies to the purchasers who had multi contracts and that since I only had one contract I would get 100%.

Due to the language barrier, I have requested that he sends me an email explaining this new, very important  information.

Cheers





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22 Oct 2013 11:15 AM by fazarelli Star rating. 282 posts Send private message

Belucky,

I have spoken to Alvaro too, last year sometime. He was explaining something similar to me and I asked him to send me the information through my solicitor. I'm still waiting. It's total BS. They try and hide behind the language barrier to con you.



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22 Oct 2013 11:43 AM by mariadecastro Star rating in Algeciras (Cadiz). 9354 posts Send private message

Legal Questions? Speak to Maria Direct

My advise, in general is for you to use Malaga Courts ( through your lawyers) to have judges helping you to obtain necessary information for these actions.

Malaga Appeal Court is passing very right decissions on this actions against Banks out of provision 1segundo of Law 57/68



_______________________

Maria L. de Castro, JD, MA

Lawyer

Director www.costaluzlawyers.es

El blog de Maria



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