Bank Guarantee case won but still no refund

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02 Aug 2014 13:26 by manus1 Star rating. 8 posts Send private message

Hi

We won a Bank Guarantee case against Cam, snow Slabadell, in January 2014. The sentence was passed within the 20 days with the Bank having to pay us our deposit, interest and costs. It  is now August 2014 and we are still waiting for a refund. We can't understand why  it is taking so long to get  our  money back. Has anybody else experiencing the same problem. Our solicitor is very minimilistic with information and take ages to get a reply to our emails.

Thank you





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05 Aug 2014 08:33 by ads Star rating. 3026 posts Send private message

Have the Bank appealed against the sentence?





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05 Aug 2014 09:16 by mariadecastro Star rating in Algeciras (Cadiz). 8811 posts Send private message

mariadecastro´s avatar

You need to be under one of these two scenarios:

-  Bank has appealed

- Lawyers is enforcing Court Decission against the Bank.

Ask your lawyer for that info.

Cheers

Maria



_______________________

Maria L. de Castro, JD, MA

Lawyer

Director www.costaluzlawyers.es

El blog de Maria



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05 Aug 2014 14:40 by ads Star rating. 3026 posts Send private message

Maria,

How long would it take to enforce a decision against the Bank and for monies to be returned to the lawyer's client account?





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05 Aug 2014 17:23 by noddy Star rating. 148 posts Send private message

i have been told 12-15months and you may have to pay your solicitor more money ithink

 

nick





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05 Aug 2014 18:58 by manus1 Star rating. 8 posts Send private message

Thank you for all the replies. My solicitor has now informed me that the Bank have not appealed the court decision. The delay seem to rest with the Procutator and as the court system has shut down for the month of August, we don't see anything happening  until September at the earliest.

It has taken some  time to get to this stage but  we should be thankful  that our Solicitor got a decision in our favour in the end. There are many others out there who are in limbo, however there are and increasing number of court decisions going in favour of the purchaser. So lets keep fingers crossed!!.

Thanks again.

 

Manus

 





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21 Oct 2014 22:44 by fazarelli Star rating. 205 posts Send private message

Well done Manus!

 

Could you fill us in with a bit of detail?

Like:-

When did you pay your deposit?

How soon after did you realise it wasn't getting built?

How soon did you first start a legal case?

What interest rate will you be getting ?

 

Cheers





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22 Oct 2014 12:14 by manus1 Star rating. 8 posts Send private message

Hi Fazarelli

We paid deposit in 2005 (50% of total cost). Building completion date April 2007.

It was not completed by 2009 so took legal action but had to change solicitors mid-stream.

Won case in January 2014 but have not received our funds yet and can't understand why not.

Costaluz lawyers indicate that legal interest rate is 4.5% for this period.

Manus1

 

 





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22 Oct 2014 15:12 by mariadecastro Star rating in Algeciras (Cadiz). 8811 posts Send private message

mariadecastro´s avatar

Manus:

Is your lawyer now informing you?

These are legal interests of last years:

 

Year Yearly percentage
1995 9,00
1996 9,00
1997 7,50
1998 5,50
1999 4,25
2000 4,25
2001 5,50
2002 4,25
2003 4,25
2004 3,75
2005 4,00
2006 4,00
2007 5,00
2008 5,50
2009 hasta marzo 5,50
2009 desde abril 4,00
2010 4,00
2011 4,00
2012 4,00
2013 4,00
2014 4,00


_______________________

Maria L. de Castro, JD, MA

Lawyer

Director www.costaluzlawyers.es

El blog de Maria



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22 Oct 2014 15:35 by manus1 Star rating. 8 posts Send private message

Hi Maria,

I have been told by my Solicitor in August that it will be months before we get our deposit back.

What is the average delay in getting ones deposit back in all of the cases that you have won so far?

Thank you for update on legal interest

Rgds

Manus1

 





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22 Oct 2014 15:54 by ads Star rating. 3026 posts Send private message

Maria do you keep statistics of court delays by region from your clients' data?

 


 

 

 

 





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22 Oct 2014 16:29 by grumpy121 Star rating. 15 posts Send private message

Hi 

At least you won.

how long does an appeal usually take from first instance court.

how many case are in court at the moment regarding ley 57/68

 

there should be 100000 cases just wondered how many won and lost





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14 Mar 2015 15:43 by coleen Star rating. 74 posts Send private message

What is the position now Manus1?





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14 Mar 2015 20:56 by M11Block Star rating. 173 posts Send private message

We never got our deposit back, after winning our case the developer simply refused to pay, our solicitor went back to court to access bank accounts and property. Banks refused to pay. Fighting fighting .... Waiting, waiting ..., then they went into Administration. 2006 we put our deposit on. Now we are fighting banks who took our deposit Ley 57/68 and our case will be heard November 2015. 

I wish you every success, I sincerely do, and hope that you do not have to suffer all the disappointments we have suffered after thinking that we had finally won our case and would get our money plus interests and costs. Nothing.

Good Luck





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15 Mar 2015 13:15 by ads Star rating. 3026 posts Send private message

Exactly why this whole scenario needs to be reviewed in terms of safeguarding the rule of law and timely justice/enforcement of a law intended to protect innocent offplan purchasers from developer and banking abuse.





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15 Mar 2015 16:48 by Joe1 Star rating. 135 posts Send private message

Joe1´s avatar

My understanding is Ley 57/68 was essentially put into place to protect buyers against unscrupulous builders by protecting deposits. Banks are well aware of their role in this saga but still fight it through the courts. Ley 57/68 should be as clear as night and day but it isn't!

I have a question for Maria (mariadecastro), Guadalupe (gmlegal), or indeed anyone persuing recompence via Ley 57/58. Has anyone actually been refunded?

 

 





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15 Mar 2015 19:27 by mariadecastro Star rating in Algeciras (Cadiz). 8811 posts Send private message

mariadecastro´s avatar

Dozens in our Law Firm has been refunded. I am sure same in other Law firms

 



_______________________

Maria L. de Castro, JD, MA

Lawyer

Director www.costaluzlawyers.es

El blog de Maria



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17 Mar 2015 13:41 by friendly Star rating in North Lanarkshire. 125 posts Send private message

Hi nick,  You said that enforcement could take 12-15 months.  Do you mean that it would take your lawyer this time to enforce the sentence or is this the length of time that the other party have to comply with the enforcement?

Ang

 


This message was last edited by friendly on 17/03/2015.



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17 Mar 2015 20:23 by ads Star rating. 3026 posts Send private message

For those concerned by the impact of major delays and the lack of  timely return of deposited monies take a look at this thread titled "Bank Guarantees Abuse "

http://www.eyeonspain.com/forums/posts-long-20552.aspx

 

 

 





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18 Mar 2015 10:36 by noddy Star rating. 148 posts Send private message

in my case.

i won judgement in 2012, my lawyer didnt tell me and they become they interested because you have already paid them. once you get judgement you then have to pay more money to them to execute the judgement. by this time probably the builder has gone bust ( not sure whether any easier with bank guarrantee ). in my case my'property' is still half built shell bu builde still working and selling on earlier phase.

so i changed lawyers dec 2013 and told 15-18 months. so maybe this year.

 

it has cost me 10,000e so far IF i get my money in full its 100,000 plus

I started the proceedings in 2006 and now on my thid lawyer. Unfortunately spain is riddled in equal amounts of corruption and incompetence so you dont meet nicer normal people. its the system and it will never change.

Nick





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