FINCA PARCS ACTION GROUP - NO BANK GUARANTEES

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25 Nov 2009 00:00 by Keith110 Star rating in the UK and I am lead.... 682 posts Send private message

FINCA PARCS ACTION GROUP - NO BANK GUARANTEES

For almost 3 years I have been part of a group of 8 Finca Parcs purchasers who were never issued with the legally required Bank Guarantees from Cleyton GES/Finca Parcs and CAM Bank.  We reserved in November 2006 and have been chasing the developer and bank since that date.  During this time we have collected a huge amount of correspondence and evidence in this matter.

In the last 2 months our group has grown to 31 Finca Parcs purchasers with a total of 40 plots and we are adding new members each week.

I am co-ordinating the group and we have submitted all the required data to Max Kite at Finca Parcs Refunds.  Max Kite has been like a breath of fresh air and has replied to every email I have sent him on behalf of the group.  In 3 years of dealing with Cleyton GES we have never received such prompt responses to our communications.  Unfortunately, Max Kite is only employed by Cleyton GES solely for the collection and collation of data and as such his role is very limited.

As a group we have supported the refunds process by submitting the required data (copies of Sales Agreements and Bank Transfer Documents) and allowing Cleyton GES some time to carry out negotiations with the Arab Investment Group who we understand are interested in purchasing Cleyton GES/Finca Parcs for the value of the debts.  However, we now feel the Refunds Process is taking far longer than originally stated and we still have no tangible evidence to suggest that it will lead to a refund as promised.

In their last official communication issued on 9 November 2009, Cleyton GES stated:

To date, we have collated approximately 95% of all of the documents necessary for us to calculate the precise figure for the new investment company.


Until we have a 100% of the documentation it is not going to be possible to give the exact completion date for each client but we are hopeful to be able to give all concerned a solid date by Christmas.

May we reiterate the urgency and utmost importance that the few outstanding clients contact us by internet or telephone to facilitate the transfer of documentation, so that we can bring closure to this complicated situation.”

Therefore to avoid Cleyton GES continuing to use the above as a reason for delay we would urge all Finca Parcs purchasers with or without Bank Guarantees to register with Max Kite at Finca Parcs Refunds either by telephone on:
0034 686767921 or by email to: refundsfincaparcs@hotmail.com

Purchasers with Bank Guarantees should then be able to execute their Bank Guarantee with CAM Bank.

However, as a group, all without the legally required Bank Guarantees, we are determined that justice must prevail and all innocent purchasers who were never issued with the legally required Bank Guarantees should receive a full refund together with the addition of legal interest.  This is a very serious and complex situation and therefore as a group we are unable to give a 100% guarantee of success to anyone, however you can be sure we will leave no stone unturned in the fight to uncover the truth and recover our deposits.

We have legal representation in this matter from Maria Luisa de Castro of Costaluz Lawyers and have secured a reduced level of legal fees due to the number of purchasers in our group.

Our legal team have studied the case together with a professor of Spanish Law and we are now ready to commence legal/criminal proceedings in this matter.

If you have NOT received the legally required Bank Guarantee from CAM Bank and Cleyton GES and would like to join our group then please send me a private message via EoS or send me an email with your name and plot number.

I will then reply with full details of our group and the information we require from you.

Kind regards


Keith
FINCA PARCS ACTION GROUP

Email:           fpag@btinternet.com
Mobile:          07956 375749
Intl:              0044 7956 375749



_______________________

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

       
      

fpag@btinternet.com




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02 Dec 2009 18:50 by Keith110 Star rating in the UK and I am lead.... 682 posts Send private message

FINCA PARCS ACTION GROUP

Our FINCA PARCS ACTION GROUP now has 35 purchasers with 44 plots between us and we are adding new purchasers each week.

We are ready to commence legal / criminal action against CAM Bank and Cleyton GES.

If you are a Finca Parcs purchaser who has not received the legally required Bank Guarantees from CAM Bank and Cleyton GES please email us urgently.

By joining our action group you will benefit from much reduced legal fees based on the amount of our group claim.

Kind regards

Keith
FINCA PARCS ACTION GROUP

Email:           fpag@btinternet.com
Mobile:          07956 375749
Intl:              0044 7956 375749



_______________________

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

       
      

fpag@btinternet.com




Like 0      
05 Aug 2010 23:39 by Keith110 Star rating in the UK and I am lead.... 682 posts Send private message

FINCA PARCS ACTION GROUP TAKE LEGAL ACTION AGAINST SPANISH DEVELOPER – CLEYTON GES SL AND THE FUNDING BANK OF THE DEVELOPMENT - CAJA DE AHORROS DEL MEDITERRANEO

5 AUGUST 2010 – FOR IMMEDIATE RELEASE


FINCA PARCS ACTION GROUP

Off-Plan deposits paid by group in excess of 2 million Euros

Buyers deceived

Legally required Bank Guarantees not issued

Developer and funding bank failed to act in accordance with  Spanish Law, in particular,
LEY 57/68 Article 1.1 and 1.2

SUMMARY

FINCA PARCS ACTION GROUP
, currently consists of 63 purchasers on the Las Higuericas, Finca Parcs development, none of whom were provided with the legally required Bank Guarantees for their Off-Plan deposits.  The developer, Cleyton GES SL abandoned the project in May 2009 stating that the project was ‘financially unviable’.  Over the past 2 years FINCA PARCS ACTION GROUP has listened to various promises of refunds from the developer, however to date nothing has materialised.  The developer breached its contractual obligations, failed to comply with its legal obligation to provide Bank Guarantees and failed to honour its promises of issuing refunds to the group members, therefore, FINCA PARCS ACTION GROUP has been left with no option but to commence legal action against the developer and promotor of the project, Cleyton GES SL.

The main reasons for the legal action are:

To the best of our knowledge, no Building Licences (Licencia de Obras) issued for 3 of the 5 phases

Failure to provide Bank Guarantees as required by Spanish Law for the protection of amounts paid in advance by purchasers


Failure to deliver the properties and specific features of the project within the contractually agreed time


The group is also taking legal action against the developments funding bank, Caja de Ahorros del Mediterráneo (CAM Bank), the entity that accepted the off-plan deposits and that was contracted by the developer Cleyton GES SL to issue the Bank Guarantees.  CAM Bank failed to comply with their legal obligations of verifying the existence of Bank Guarantees which is a clear violation of their obligations under Spanish Law, in particular, LEY 57/68 Article 1.1 and 1.2.

FINCA PARCS ACTION GROUP consists of individual buyers mainly from the UK, Ireland and Spain.  Keith Rule, a Finca Parcs purchaser who has not received the legally required Bank Guarantee, formed the action group in 2009 after leading a smaller group of Finca Parcs purchasers since 2006.  The group is legally represented by María Luisa de Castro, director of Costa Luz Lawyers and De Castro Gabinete Jurídico which consists of legal professionals including her father and two brothers.  Costa Luz Lawyers and De Castro Gabinete Jurídico have been working exclusively on similar cases since March 2006.  The legal team is being assisted by a Civil Law Professor (Catedrático) from the University of Seville.

The off-plan deposits paid by the group members for which the legally required Bank Guarantees were not issued total in excess of 2 million Euros.  The deposit funds were paid to the Special Accounts opened by the developer Cleyton GES SL at the funding bank, Caja de Ahorros del Mediterráneo.

The deposits, which for some group members amount to the bulk of their life savings, were paid for off-plan reservations between 2004 and 2008.

FINCA PARCS ACTION GROUP member, Reg Matthews, 75, who reserved his Finca Parcs plot in 2006 comments: “The developer Cleyton GES SL and CAM Bank have taken my money, failed to provide my Bank Guarantee and failed to build my house that was originally promised for completion in 2008.  My life has been on hold for the past 4 years, my dream of a house in the Spanish sunshine has been shattered and all I want now is my money back.  The developer and bank should not be allowed to treat innocent people like this.  I am shocked this type of thing can happen in an EU member country when there are laws and regulations in place to prevent such situations”

 

FINCA PARCS – CLEYTON GES SL & CAM BANK

The developer, Cleyton GES SL launched the Las Higuericas Finca Parcs development with the slogan ‘The Real Spain’ and in collaboration with CAM Bank began accepting off-plan deposits in 2004.  The inland development, close to the village of Agramón, is around 15km from Hellin and 80km from Albacete and Murcia.  The development was marketed predominately to UK and Irish buyers as a self contained sports and leisure resort.  Built close to the Camarillas Lake there were due to be a total of 617 detached villas spread over 5 phases, many with private pools.  Building Licences (Licencia de Obra) were issued for Phases 1 & 2 in March and October 2007, however to the best of our knowledge, the developer, Cleyton GES SL never applied for the building licences for Phases 3, 4 and 5, despite the fact that some construction actually took place on Phase 3 and ground works took place on Phases 4 and 5.  The development was also advertised to include a commercial centre with 24 hour security, maintenance services, medical centre, shops and restaurants.  Sports enthusiasts were to be catered for with promised facilities to include horse riding, fishing, swimming, canoeing, tennis and bowls.

However, in May 2009, 5 years after accepting the first off-plan deposits the developer, Cleyton GES SL abandoned the site with only 36 of the 617 properties completed.  Hellin Town Hall refused to issue Habitation Certificates / Licences of First Occupation for any of the properties on the site as in their opinion the infrastructure was not fully completed.  Therefore, no buyer was able to complete their purchase. As a result the site has been deserted since May 2009 except for the presence of a lone security guard.

The developer, Cleyton GES SL officially announced on 21 September 2009 that the development was cancelled due to the fact that it was ‘financially unviable’.  Cleyton GES SL then set up the Finca Parcs Refunds Process and refunds were promised to all those purchasers who were not issued with the legally required bank guarantees.  Unfortunately Cleyton GES SL failed to provide any tangible evidence to show this process was genuine and on 5 March 2010 the Finca Parcs Refunds Process closed after failing to issue a refund to any purchaser.

COMPLAINT TO CAM BANK


Since 2006 FINCA PARCS ACTION GROUP has been pursuing the developer Cleyton GES SL to demand that they provide the legally required Bank Guarantees.  In July 2008 the group submitted their first complaint to Caja de Ahorros del Mediterráneo, the projects funding bank that accepted the off-plan deposits.  CAM Bank failed to acknowledge this initial complaint and in October 2008 the group referred the matter to the CAM Bank London Representative Office.  In January 2009 the CAM Bank London Office advised the group to submit the complaint to the CAM Bank Head Office in Alicante.  A complaint file in excess of 100 pages was delivered by courier to the CAM Bank Head Office in February 2009.  After months of correspondence the group escalated the complaint to the highest level within CAM Bank – to the President - Modesto Crespo and the CEO – Roberto López Abad.

After receiving a totally unsatisfactory response from Messrs Crespo and López Abad the FINCA PARCS ACTION GROUP was left with no option than to commence legal action against the developer, Cleyton GES SL and the funding bank that accepted the off-plan deposits, Caja de Ahorros del Mediterráneo (CAM Bank).

The Director of the legal team in charge of this case, the Lawyer María Luisa de Castro says: “This is a large group of purchasers being led in a very professional and pro-active manner by the group leader Keith Rule.  Our legal view is that CAM Bank has acted with a total lack of professional due diligence.  Mr Rule has provided us with a dossier of evidence consisting of almost 500 pages”

WORRYING SITUATION


The group finds the situation all the more worrying due to the fact that since paying their off-plan deposits to Cleyton GES SL and CAM Bank for the Finca Parcs project, it has emerged that residents on another Costa Blanca development constructed and marketed by a company which included many of the same Directors/Administrators as Cleyton GES SL, are currently engaged in a battle to legalise their homes.

DECEPTION

Buying a property in Spain is a major decision and members of the FINCA PARCS ACTION GROUP have been deceived by the developer and selling agents due to the fact that all the advertising and promotional material including the Sales Agreements clearly stated that Bank Guarantees would be provided at every stage of the purchase process by CAM Bank.

A number of agents selling properties at Finca Parcs continued to entice potential purchasers during the period 2006 to 2008 by stating in their promotional material ‘BANK GUARANTEES INCLUDED’ when they knew categorically that many of the clients they had already sold plots to at Finca Parcs had not received the legally required Bank Guarantees.

FINCA PARCS ACTION GROUP will leave no stone unturned in their fight for justice.

FAILURE TO ISSUE BANK GUARANTEES - HUGE PROBLEM IN SPAIN

The situation in which members of the FINCA PARCS ACTION GROUP find themselves is similar to that being experienced by many thousands of off-plan purchasers in Spain.  The failure of developers and banks to provide the legally required Bank Guarantees is a huge issue in Spain and the scale of the problem is becoming clearer on a daily basis.

Further details and photos can be found on the FINCA PARCS ACTION GROUP website at:  www.fincaparcsactiongroup.com

Details of a Petition related to Bank Guarantees in Spain directed at Don Miguel Angel Fernández Ordoñez - Governor of the Banco de España (The Banco de España is the national central bank and supervisor of the Spanish banking system), Don José Luis Rodríguez Zapatero - Prime Minister of Spain and José Manuel Barroso - President of the European Commission can be found on the BANK GUARANTEES IN SPAIN website at:  www.bankguaranteesinspain.com



_______________________

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

       
      

fpag@btinternet.com




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02 Feb 2012 12:59 by Keith110 Star rating in the UK and I am lead.... 682 posts Send private message

PRESS / MEDIA RELEASE

 

FINCA PARCS ACTION GROUP – 4 DAY TRIAL IN MAY 2012 FOR LAWSUIT FILED AGAINST SPANISH DEVELOPER – CLEYTON GES SL AND THE FUNDING BANK OF THE DEVELOPMENT - CAJA DE AHORROS DEL MEDITERRÁNEO

FOR IMMEDIATE RELEASE


FINCA PARCS ACTION GROUP

  No legally required Bank Guarantees for Off-Plan deposits totalling 1.5 million Euros
  Lawsuit against CAM Bank & developer Cleyton GES SL filed in February 2011

  First Instance Court Preliminary Hearing held on 12 January 2012
  4 Day Trial set for 21, 22, 23 & 24 May 2012

SUMMARY

A 4 day trial will take place in the First Instance Court in Hellín on 21 to 24 May 2012 in relation to a 1000 page Lawsuit filed in February 2011 against property developer Cleyton GES SL and Caja de Ahorros del Mediterráneo on behalf of 47 members of the FINCA PARCS ACTION GROUP.


The 47 group members paid their Off-Plan deposits totalling 1.5 million Euros for properties at the Las Higuericas Finca Parcs development to CAM Bank accounts opened by the developer Cleyton GES SL. 

None of the group members received the legally required Bank Guarantees in accordance with Spanish Law, LEY 57/1968.

The inland development, close to the village of Agramón, is around 15km from Hellín and 80km from Albacete and Murcia.  Despite marketing the development for 5 years as a self contained sports and leisure resort, the developer Cleyton GES SL abandoned the site in May 2009 stating that the project was ‘financially unviable’.  The site with 617 plots divided into 5 Phases still remains abandoned with just 50 Phase 1 properties completed, however due to site defects not even these properties were issued with the Licence of First Occupation by the Hellín Town Hall.

Caja de Ahorros del Mediterráneo, the bank recently purchased by Banco Sabadell for One Euro and described by Banco de España Governor, Miguel Angel Fernández Ordoñez at a Press Conference in September 2011 as the ‘WORST OF THE WORST’ are the co-defendants in the case.

CAM, the Bank that accepted the off-plan deposits was also contracted by the developer Cleyton GES SL to issue the corresponding Bank Guarantees.

THE GROUP

FINCA PARCS ACTION GROUP formed by group leader Keith Rule in 2009 consists of individual buyers mainly from the UK, Ireland and Spain.  The group is legally represented by María Luisa de Castro, director of CostaLuz Lawyers and Jaime de Castro director of De Castro Gabinete Jurídico both based in Algeciras.

PRELIMINARY HEARING

The Preliminary Hearing took place in the First Instance Court in Hellín on 12 January 2012.

 

Group Leader, Keith Rule, who was present at the hearing, said:

“The hearing lasted for around one hour and all the evidence contained in our Lawsuit and presented at the Preliminary Hearing was allowed by the Judge.  CAM Bank, as is the defendants legal right in such cases, stated that it was their intention to call all 47 claimants to appear in person at the Full Trial in May.  As some contracts are in joint names the result is that we will have around 60 individuals travelling to Spain for the trial”.

 

FULL HEARING

Keith continues, “It is fantastic that the Full Trial is scheduled for May as this is just 4 months after the Preliminary Hearing.  It is normal in these cases for a delay of between 9-12 months between the Preliminary and Full Trial.  We will do everything possible to ensure all individual claimants are able to attend the Trial.  It will be a huge logistical exercise as we will need to organise flights, transport and accommodation in Hellín for the 60 of us, but this is just another hurdle that the group has been subjected to since paying our deposits in good faith 6 years ago”.

PEOPLE POWER


In such cases purchasers who have signed a Power of Attorney with their Lawyer are not normally called in person to attend the trial.  The prospect of 60 individual claimants appearing in person at the local court in Hellín for a trial due to be heard over 4 days is sure to increase media interest in the case.

The court in Hellín is relatively small and may need to provide extra facilities to cope with such a large number of claimants all at one time.

Reg Matthews, a member of the group comments, “We are looking forward to having our day in court.  The developer and Bank still continue to put obstacles in the way of our fight for the return of our money, but we will not give up.  This has been a long battle but we are sure that one day justice will be done”.

FAILURE TO ISSUE BANK GUARANTEES - HUGE PROBLEM IN SPAIN


The situation in which members of the FINCA PARCS ACTION GROUP find themselves is similar to that being experienced by many off-plan purchasers in Spain.

500 victims of Off-Plan Property Bank Guarantee Abuse have so far provided detailed evidence to the Bank Guarantees In Spain Petition which can be found on the BANK GUARANTEES IN SPAIN website at:  www.bankguaranteesinspain.com

There are now several instances of Provincial Court Judgments (Santander, Cantabria, Burgos, Alicante, Murcia etc.), the Supreme Court of Navarra and various First Instance Courts in which Judges have ruled on the liability of the Banks according to LEY 57/1968.



_______________________

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

       
      

fpag@btinternet.com




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24 Mar 2012 12:00 by sauzee Star rating. 11 posts Send private message

Hi Keith

Good Luck - we sincerely hope all of you in Finca Parcs Action Group receive the correct judgement in this case at the Hellin Court in May this year and that you all receive your deposits back soon thereafter.  We did have a Bank Guarantee for the first phase of this development but still we had to go to Court to get our deposit back - which thankfully Maria and her team won back for us - We wish you all the best for a right and just outcome ! 

Sauzee





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24 Mar 2012 20:57 by Keith110 Star rating in the UK and I am lead.... 682 posts Send private message

Hi Sauzee

Thanks for your kind words.

We will keep fighting right till the end.

Banco CAM is a complete disgrace.  They accepted deposits for around 300 plots at Finca Parcs but only issued Bank Guarantees for around 200 of them.

As you found out, even the Finca Parcs purchasers with Bank Guarantees were treated very badly by Banco CAM.  On most occasions, for no legitimate legal reason, CAM refused to honour the Bank Guarantees and the purchasers were forced into taking legal action against them.

Let's hope we win the case in May and that they are made to pay in full for their complete negligence, lack of due diligence and collusion with the developer!

Kind regards

Keith



_______________________

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

       
      

fpag@btinternet.com




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16 Jan 2013 08:27 by carolinemills Star rating. 27 posts Send private message

** EDITED - SPAM - Against Forum Rules **

 


This message was last edited by eos_moderators on 16/01/2013.


This message was last edited by eos_moderators on 16/01/2013.



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