Trampolin Hills and liability of La Caixa and other banks according to LEY 57/1968

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21 Feb 2017 12:33 by mariadecastro Star rating in Algeciras (Cadiz). 8857 posts Send private message

Legal Questions? Speak to Maria Direct

Murcia – Trampolin Hills

As a direct result of the Preliminary Diligences procedure filed in the Mercantile Court No.1 in Murcia regarding Trampolin Hills, the following conclusions and evidences were obtained by the Costaluz-Decastro legal teams:

  • Existence of Special accounts in La Caixa, Cajamar and Banco de Sabadell
  • Existence of two guarantee instruments: (1) by Caixa, office located in Santa Catalina, Murcia, (2) By Swiss Financial Corporation, which is illegal as the entity is not authorized in Spain.
  • Possibility of making all companies of the Trampolin Group liable of same breaches.

Caixa plays an important role in regards to liabilities of off plan advanced payments in this development as, together with holding one special account, it issued a guarantee instrument for the refund of off-plan amounts. These instruments, according to recent Case law by the Supreme Court cannot have financial or time limits.

The last Court sentences in Murcia regarding “in vigilando” obligations of banks who received off plan amounts in their accounts are as follows. All of them mention recent decisions by the Supreme Court:

SAP Murcia 4 08/09/2016: STS 16 January, 30 April & 21 December 2015: It explains the full doctrine of the Supreme Court with regards to vigilance and due diligences that must be performed by Banks receiving off plan deposits.

SAP Murcia 1, 04/07/2016: Also on liability of Banks receiving amounts according to Law 57/1968:  STS 21/12/15; 09/03/2015; 17/03/2016; 24/06/2016

SAP Murcia 4, 5/5/2016: Liability of Bank where developer opened the account to receive off plan stage payments



_______________________

Maria L. de Castro, JD, MA

Lawyer

Director www.costaluzlawyers.es

El blog de Maria



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21 Feb 2017 14:46 by Elsietanner Star rating in Alicante & New York. 164 posts Send private message

Elsietanner´s avatar

Maybe a silly question, but where did the off plan deposit money go? Or putting it another way, what did the banks do with this money?.



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21 Feb 2017 15:04 by mariadecastro Star rating in Algeciras (Cadiz). 8857 posts Send private message

Legal Questions? Speak to Maria Direct

Wherever the money went to, banks which received them, are liable for their refund if they did not ensure tha law 57/68 guarantees existed for the protection of them if the development failed

M



_______________________

Maria L. de Castro, JD, MA

Lawyer

Director www.costaluzlawyers.es

El blog de Maria



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21 Feb 2017 15:29 by Elsietanner Star rating in Alicante & New York. 164 posts Send private message

Elsietanner´s avatar

** EDITED - off topic**

 


This message was last edited by eos_moderators on 21/02/2017 20:35:00.

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