Bank Guarantees and IVA

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12 Apr 2017 2:26 PM by gill_malouf Star rating in Stockport, Cheshire. 201 posts Send private message


Can anyone tell me if they have a copy of their bank guarantee and whether or not it includes the IVA?

I purchased and paid my 30% deposit to Sol Mijas Developers SL in September 2004 and the Bank Guarantee is dated December but doesn't include the IVA. I plan to publicise the issues with this claim - as I 'won' the First Instance court hearing against the Developer and the subsequent appeal they lodged. An embargo was placed on the property as the Developers refused to pay up or co-operate. The Alicante based solicitor seemed to think I had 'wealth' - something I didn't realise until I discovered I was being charged over 50% of the claim. I managed to get a UK bank loan to pay 50% of the solicitors fees. NO MONEY WAS EVER RECOVERED FROM THE DEVELOPER from the 2 court claims. I was out of pocket by almost 20k Euro & was being chased for a further 20k Euro by my then solicitor. 

I then took documentation to a UK (Cardiff) based Notaire/Solicitor who asked for upfront fees. After some time he said he was leaving his then firm and becoming self employed - the funds paid were 'taken' virtually as soon as I paid it over, but no account of what i was being charged for was evident so the Legal Ombudsman got a full refund for me. I then took the claim to another solicitor who used the Bank Guarantee to gain my funds back from the bank itself. The developer owes me the interest & costs awarded to me in the 2007 First Instance. I am widowed and my life is presently one of survival and I am positive these unethical company directors know full well what havoc they reek (especially when it's been all over the English Costa del Sol media about Russian Mafia moneylaundering.

On top of this, the IVA was not included in the bank guarantee....the refund of this could mean I could actually purchase a car and become self employed.

I have a goal to expose the Developers as some female purchasers cannot cope with the mental stress of seeking legal redress, meaning the Developers and Banks are not loosing as much as they might otherwise had done.

One woman I know is sacrificing 134k Euro for the sake of her sanity......I cannot afford to do that meanwhile my living standard and health suffers and from 2004 I have been living on 'this time next year'!!   

Solicitors have a job to do, but as it isn't their money they really don't understand how it feels to have trusted 'professionals' and lost virtually everything...and getting funds together to pay 'up front costs' for me took significant time.....this time next year perhaps my nightmare will be over. 

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13 Apr 2017 11:50 AM by mariadecastro Star rating in Algeciras (Cadiz). 9401 posts Send private message

mariadecastro´s avatar

Dear Gill:

Whatever the Bank Guarantee document says, it covers, by Law all payments you have made to a developer´s bank accounr, whatever the concept of the payment is.


Maria L. de Castro, JD, MA



El blog de Maria

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13 Apr 2017 2:41 PM by gill_malouf Star rating in Stockport, Cheshire. 201 posts Send private message

Thanks Maria, so if my original Sol Mijas Claim with the developer had the correct figure and awarded me legal costs and interest does Sol Mijas Developers owe me that as well as the IVA which was not included on the Bank Guarantee?

Is the conveyancing solicitor responsible for checking the IVA is included on the Bank Guarantee.

I am hoping to take action, be it legal or public domain articles (or both) concerning Sol Mijas Developers SL and the conveyancing process. I am widowed and need not only 'fair' justice but to finally come out of that claim with a good feeling about Spain - right now I'm not feeling a good vibe! LOL  


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13 Apr 2017 3:03 PM by mariadecastro Star rating in Algeciras (Cadiz). 9401 posts Send private message

mariadecastro´s avatar


Better to claim the whole amount against the Guarantor Bank. Developer has no solvency in many occasions.

Your conveyancing lawyer should have ensured your Guarantee covered all the amounts. As the Guarantee is there for the refund of all you paid ( regardless what they individual policy covered in written), especially after the great interpretation that our Supreme Court is doing of this Law; action against conveyancing lawyer can be used for the refund of all costs and expenses you have incurred due to his negligence and which are not being repaid by the Guarantor, including their original conveyancing fees.

Hope this has clarified. 



Maria L. de Castro, JD, MA



El blog de Maria

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13 Apr 2017 5:04 PM by gill_malouf Star rating in Stockport, Cheshire. 201 posts Send private message

Thanks Maria. 

I need to finish what I started with that one....however, again I am stuck in limbo until the Casares court decision is known...and allow for the 20 day potential appeal. I simply want to have a life...not an existence/or survival. I really want to make a difference......and forget the trust that got me into this position.


I appreciate everything in life....and as time is perhaps our most special commodity, especially when your health is on the decline through constant stress and years pass by. 

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