GM LEGAL EXPERTS WON CASE

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18 Sep 2014 11:59 by Guadalupe. Lawyer Star rating. 261 posts Send private message

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HACIENDA BUENAVISTA (SIERRA MAR DEVELOPMENTS, MIJAS): BANCO POPULAR IS HELD LIABLE FOR BUYERS' DEPOSITS ALTHOUGH NO INDIVIDUAL OR GENERIC BANK GUARANTEES WERE GRANTED
 
Although no individual or generic bank guarantees were given, we claimed Banco Popular's liability under the provisions of the 1st article of the 57/58 Act First Instance Court from Marbella, because the account where deposits were paid into was really an special account, although Bank and Developer used the name "ordinary".
 
Our understanding is that the enforcement of mandatory laws must not depend on the good will of the parties and, obviously, should ensure protection for third parties acting in good faith (purchasers).
 
Luckily,  the Judge of the First Instance Court in Marbella was of the same opinion, and declared that account was really "special", no matter the name given by the parties, so Bank should have made sure that deposits were withdrawn just for building purposes, and should have also requested the delivery of bank guarantees for buyers whose deposits were paid into that account. Therefore, Banco Popular has been ordered to pay deposit plus legal interest to those purchasers.
 
This kind of judgements are unusual, but it seems that Courts are finally moving forward on purchasers' protection justice and their knowledge and awareness about the 57/68 Act is increasing.




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21 Oct 2014 22:24 by fazarelli Star rating. 216 posts Send private message

Great news!

Have the bank got a short time period in which to lodge an appeal?





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22 Oct 2014 08:48 by Keith110 Star rating in the UK and I am lead.... 682 posts Send private message

An Appeal to the Provincial Appeal Court must be submitted within 20 working days from the date the First Instance Sentence was notified to the parties



_______________________

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

       
      

fpag@btinternet.com




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22 Oct 2014 21:08 by ads Star rating. 3092 posts Send private message

Excellent news Guadalupe.

On the point of time periods I would be grateful to know are Costaluz and Guadalupe's law firm GM Legal able to analyse court delays and delays to judicial rulings by region from their client data records?

Kind regards.





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