How long should a Court hold onto your money ??

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18 Jul 2018 13:16 by belucky358 Star rating in North Yorkshire. 198 posts Send private message

Hi,

Could anyone give me any indication as to how long the Courts hold onto your money once it has been deposited by the Bank ?

Briefly, we won our case at Malaga Court against Banco Popular in March 2017, this Bank eventually paid our money into the Court one year later, in March 2018, I have now been informed that I may receive our money in September to October 2018 which is another 7 months ?  Who receives the interest from my money for all this time ?

Cheers





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18 Jul 2018 16:58 by georgie1 Star rating. 93 posts Send private message

Your interest should be backdated from the time of your initial deposit till the day its paid into your foreign exchange account .Your solicitor should be able to explain that to you .Best of luck hope its not to long ,I think it depends on what court about the length of time .


how long should the court hold your monies ?



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18 Jul 2018 19:51 by mariadecastro Star rating in Algeciras (Cadiz). 9100 posts Send private message

Legal Questions? Speak to Maria Direct

Together with the legal interests that are accrued from payment of them into account till First Instance Court Decission, there are procedural interests that are accrued from date of First Instance Court decision to payment of principal amount into Court. Procedural interest rates are of legal interests plus 2 points.

 



_______________________

Maria L. de Castro, JD, MA

Lawyer

Director www.costaluzlawyers.es

El blog de Maria



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19 Jul 2018 16:42 by gazzap Star rating. 42 posts Send private message

Hi Maria we just won our case in court could you tell the usual 

interest rates put on the win thanks Gary 





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19 Jul 2018 22:10 by mariadecastro Star rating in Algeciras (Cadiz). 9100 posts Send private message

Legal Questions? Speak to Maria Direct

Gazzap:

As explained below:

Legal interests ( 4-5%)  from payment of them into developer´s account till First Instance Court Decision, plus procedural interests from date of First Instance Court decision to the payment of principal amount into Court. Procedural interest rates are of legal interests plus 2 points.

Thanks

María



_______________________

Maria L. de Castro, JD, MA

Lawyer

Director www.costaluzlawyers.es

El blog de Maria



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19 Jul 2018 22:37 by ads Star rating. 3444 posts Send private message

 

Thank you for the clarification on interests, Maria.

COULD THIS BE WHY THE BANKS ARE SO KEEN TO PROLIFERATE THEIR APPEALS and perhaps why the authorities are not prepared to review the system which incentivises Banks to play the system of delays?

When the courts receive principal monies from the Bank ( according to successful first instance rulings and subsequent preliminary enforcements to gain return of those monies) it appears that the claimant receives no further interest beyond the date that the monies were deposited into the court, i.e. during any lengthy ongoing appeal periods .

Which begs the question, in the interest of  transparency, who gains interest on those principal monies in the interim delayed periods whilst they remain in the courts’possession? Is it the courts, the local authority, the government? 

Are there no procedural time constraints on the courts for return of those monies to the lawyers’ client accounts for ongoing transfer to the client (less costs)? Should this now be highlighted and requested by the legal teams representing their clients?

Are these delays to return of monies from the courts now becoming excessive Maria, and if so is there an effective justice monitoring and reporting mechanism in place to ensure that the rule of law is being complied with?

 Or does this not fall within the constraints of the rule of law which according to the world justice report calls for 

3. Open Government

The processes by which the laws are enacted, administered, and enforced are accessible, fair, and efficient.

4. Accessible & Impartial Dispute Resolution

Justice is delivered timely by competent, ethical, and independent representatives and neutrals who are accessible, have adequate resources, and reflect the makeup of the communities they serve.

Might it be the case that courts denied of adequate government resources are becoming dependent on retention of monies to fund the overloaded and under resourced justice system ironically at the expense of the innocent claimant?

In this process of Banks proliferation of appeals we have sadly been witnessing increasing challenges by the Banks and disrespect of existing case law that has taken years to achieve, manipulative ongoing ploys to play the system of delays by purposefully proliferating questionable elements of doubt, which compromise award of costs until such time as SC clarification/ doctrine is achieved. 

And so the catch22 scenario  for innocent claimants continues.....

Whatever happened to making Banks FULLY accountable for their significant failings, where full accountability means return of costs and interest to act as adequate compensation for the YEARS that they have been in denial of their legal obligations as guarantors according to Ley 57/68 ? 

Don’t the authorities recognise how this scenario ironically INCENTIVISES Banks to continue to play the system of delays to their advantage, not to mention the waste of valuable court and judicial resources?

What is desperately required now is TIMELY justice, TIMELY SC rulings and adequate resourcing of a system of justice that deserves better. 

But in the interim, shouldn’t good legal teams be feeding back these uncomfortable realities with a view to improving the system of justice for their clients, whilst equally striving for essential resources and legal mechanisms that can counter system abuse by the Banks?

I still live in hope Maria.

 


This message was last edited by ads on 20/07/2018.



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05 Oct 2018 11:20 by belucky358 Star rating in North Yorkshire. 198 posts Send private message

Hi,

We won our Court case on the 15th March 2017 and we expected a refund in the very near future....would it be a surprise to anyone if I told you that our money was not paid into our Court in Malaga by the Bank (Banco Popular) until 23rd of March 2018 and we were told it would be available in 1-2 months.

It is now another SEVEN MONTHS down the line and we have not received a penny ??  Is this a normal time period for a Court to hold on to money ??

Hope it materializes soon.





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05 Oct 2018 12:44 by Kavanagh Star rating in Oil Drum Lane Newcas.... 320 posts Send private message

Kavanagh´s avatar

Hi beunlucky

It seems no one can or is prepared to answer your straight forward question ‘’How long should a Court hold onto your money ??’’  You seem to have had all the usual side information.


In my opinion (worth nothing) the money belongs to you and not the court and therefore the court should pay it to you immediately. Surely there is no law in Spain that states anything different. Perhaps Maria could give you a straight answer.

Bret



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05 Oct 2018 13:47 by gazzap Star rating. 42 posts Send private message

Hi we won our case back in July we received our money within two weeks of the court 

getting it from. The bank the bank payed straight away no arguments 

only the court has kept a small portion of it 18000 euros to be exact 

and where still waiting for it I think your solicitor need to pester the courts 

our solicitor was no win no fee so in his interest to get the money 

hope you get it soon 





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05 Oct 2018 15:31 by Kavanagh Star rating in Oil Drum Lane Newcas.... 320 posts Send private message

Kavanagh´s avatar

Hi gazzap

 

That sounds a bit odd, €18,000 that’s a lot of money. Why are they hanging onto that, has your lawyer done a deal to get enough released to cover his/her fees and in exchange said keep the €18,000 until the cows come home?.

 


This message was last edited by Kavanagh on 05/10/2018.

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05 Oct 2018 16:27 by gazzap Star rating. 42 posts Send private message

Hi kavanagh hope that’s not what they have done  our case amounted to 220000 in total with 

court costs and interest hence the big some but we have got a lot of it back after the solicitor took 

15 percent which is fine as we had written it off as told years ago you won’t see your money 

hope the rest follows 





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05 Oct 2018 19:49 by ads Star rating. 3444 posts Send private message

I thought the norm was for costs to be taken from the returned principal amount with the nett amount forwarded to the client ( the law firm retains the costs), and then a separate procedure for return of those costs and interest as per the judicial ruling is submitted, which depending on the differing  regions can vary significantly in terms of time frames.

It now appears that all of those procedures for return of monies ( principal, costs, interest) are suffering major delays in some regions, but it does appear that once principal amounts are returned to the law firm the costs are deducted at that point, so the client is left waiting whilst the remaining procedures for the return of costs and interest suffer yet further delays. Perhaps Maria could confirm if this is the norm.

P.s. It also appears that so long as a Bank appeal is outstanding, no provisional return of costs and interest can be requested even if the first instance ruling awarded these amounts to the claimant. They have to wait until that appeal is resolved. 

Likewise if a claimant appeals, to gain for instance interest to be correctly backdated and subsequently wins that appeal ( following successful case law) and the Bank appeal to the Supreme Court ( challenging that case law), again no return of costs and interest can be recovered until such time as either the SC denies it for admission or until such time as a SC ruling is achieved....which can take several YEARS. The moment the Bank appeals the element of doubt is created which can affect judge’s rulings to award costs for all similar ongoing cases during  the interim lengthy periods prior to achieving SC doctrine ( two SC rulings on exactly the same point of law).....

And given the fact that no interest is accrued beyond the time that the Banks returned principal monies to the court, you can see why it’s in the Banks interests to keep appealing, to keep creating an element of doubt even though a supportive SC ruling in favour of the claimant’ claim might  already have been established.... 

So much depends upon adequate resources being made available to address the proliferation of appeals submitted by the Banks during this last decade and beyond, flooding the system and perpetuating delays, and in some instances the need for claimants to appeal for rightful return of interest, .....that  this together with the growing need to gain TIMELY SC rulings/ doctrine makes a strong case that the Banks actions sadly appear to be compromising the rule of law ( with all the knock on effects to timely retrieval of costs and rightful return of interest in that process).


This message was last edited by ads on 05/10/2018.


This message was last edited by ads on 05/10/2018.


This message was last edited by ads on 06/10/2018.



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06 Oct 2018 15:48 by ads Star rating. 3444 posts Send private message

Belucky

Which Court is holding on to your principal monies and has your procurator advised your law firm why this has suffered a major delay.

Did the Bank issue an aval to the court ( a promise to pay ) as opposed to actual monies and does your law firm have to go through another procedure to get actual monies deposited into the court?

Or is this a case where monies are being held by the court instead of releasing them in a timely manner? Far greater transparency is required here to fully comprehend what is happening behind the scenes. 

 


This message was last edited by ads on 06/10/2018.



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08 Oct 2018 09:46 by ads Star rating. 3444 posts Send private message

Maria

If a bank submits an aval ( a promise to pay) as a form of payment to the court following a successful ruling, does this count as actual return of monies? Will this action be recognised as the point at which interest stops accruing, or is it the point of actual deposit of monies into the court?

Also please can we gain clarification on how long courts can hold on to monies before they are released to the claimant?

If claimants stop receiving interest at the point of the Banks paying monies into the court, then how can it possibly be right if those monies are not being received by the claimant in a timely manner thereafter? This needs to be addressed does it not? What processes ( reporting and monitoring and enforcement) are in place to protect clients from this scenario ( if any), and is there more that law firms can do in this regard?

 


This message was last edited by ads on 08/10/2018.



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08 Oct 2018 10:35 by mariadecastro Star rating in Algeciras (Cadiz). 9100 posts Send private message

Legal Questions? Speak to Maria Direct

Courts cannot retain money. Once amounts are paid into their accounts, this is communicated to Court agent and money is made available to lawyers.

Ads: Regardless bank depositing the Aval in Court, principal keeps accruing interests and judicial interests till they are finally calculated once Court decision is firm and non-appealable

 



_______________________

Maria L. de Castro, JD, MA

Lawyer

Director www.costaluzlawyers.es

El blog de Maria



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08 Oct 2018 11:17 by ads Star rating. 3444 posts Send private message

So an aval ( promise to pay) allows interest to keep accruing, but what about those who have taken preliminary enforcement for actual return of principal monies whilst the  remaining lengthy  appeals continue?

According to SC ruling doesn’t this interest stop at point of preliminary return of actual principal monies?

Where delays for return of principal monies have occurred following a successful ruling, what can be done about this?

Many thanks.

 

 


This message was last edited by ads on 08/10/2018.



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08 Oct 2018 11:30 by Kavanagh Star rating in Oil Drum Lane Newcas.... 320 posts Send private message

Kavanagh´s avatar

Seems like the courts are acting illegally if gazzap and his unpaid €18,000 and beunlucky’s 7 month ongoing wait can be believed.



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ALWAYS BE POLITE & FRIENDLY. PLEASE AVOID ARGUMENTS & CONFRONTATIONS. PLEASE PM ME IF YOU HAVE AN ISSUE. Donate to save the children



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08 Oct 2018 12:26 by ads Star rating. 3444 posts Send private message

Not necessarily Kavanagh..

There appear several possibilities going on here....

1) In gazzaps case is the delay due to delays to ongoing court procedures relating to recovery of interest and costs ( as opposed to courts having the money in their possession from the Banks relating to these amounts, to pass on)? 

2). In beluckys case has the delay been caused initially by the bank delaying payment of the principal monies into the court until such time as a preliminary enforcement procedure was completed, and thereafter further delays to a court administrative procedure required to release those monies to the lawyer?

In other words is this a combination of major administrative delays (brought about by lack of resourcing of the courts) that is directly impacting  timely recovery of monies, together with an obstructive approach by the Banks in so much that they wait until an enforcement is made against them before they pay up ( further exacerbating the overloaded justice and court administration systems)?

Only the lawyers will know the reasons behind these possibilities, which is why it’s becoming so important for peace of mind to gain clarity on the issues of concern raised in this thread, to comprehend what is going on behind the scenes.

 

 


This message was last edited by ads on 08/10/2018.



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08 Oct 2018 13:07 by mariadecastro Star rating in Algeciras (Cadiz). 9100 posts Send private message

Legal Questions? Speak to Maria Direct

Our in-house barrister has just confirmed:

Once Bank offers a Guarantee ( Aval) interests stops accruing

 



_______________________

Maria L. de Castro, JD, MA

Lawyer

Director www.costaluzlawyers.es

El blog de Maria



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08 Oct 2018 15:15 by Chrissie1 Star rating in UK. 398 posts Send private message

Chrissie1´s avatar

Maria

Our case has been with the Supreme Court since 9.9.16. I have sent a message to your team asking whether there is any news but i cannot seem to get a reply.

Please could you update me as to how much longer it will be before we receive our interest and costs.

Thank you

Chrissie1

 


This message was last edited by Chrissie1 on 08/10/2018.

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