Hi Mark

Have you had any progress since your last posting in April regarding the lawsuit.

Lesley

Hi All

We seem to have been on this forum for years! Has anyone heard from their lawyers with updates recently,  I am with DVA and they are not replying to any emails i send them, if someone could please let me know if they are still in business.

Thank you

Hi Mark

I am interested in hearing more about joining forces, however we have not been contacted by the developers but we have since changed our telephone number so this may be the reason. Have you any idea about costs involved if we join forces. I know one of the other forum users looked into claiming as a group last year but the costs seemed rather high this may have changed with the recentpost from Maria.

Look forward to hearing more.

I have received this from DVA:

The bank guarantees were required but never handed over for you or any of the purchasers in this project. The developer’s company went into legal investigation and the legal administrator acting appointment by the Court did not issue these either. Let me point out that this is the developer’s company obligation to grant and hand over the bank guarantees and there is nothing we can do more than requesting them to fulfil this obligation as we did in several occasions.

However, you only decided to pull out of the contract once the project was ready for delivery. By then, the bank guarantee is expired so you would have not been able to use them anyhow. This is why I informed you that these are expired.

If you would decide to sue the developer’s company the lack of bank guarantees could of course be an argument for the resolution as it is their legal and contractual obligation to hand them over. However, you already have the resolution of the contract accepted by the developer. The problem is that said company does not have the money to refund you.

Your choices are:

- To wait until they have funds enough to refund you with the risk of the eventual bankruptcy of the company.

- Complete the purchase.

- Sue the developer’s company trying to obtain from the court the embargo and execution of some properties to get paid. This is possible but involves litigation costs and it is a slow process.

I hope this information is of help for you,

I have had this from R Bright but she is unable to post it.

I have had this reply but Rose has not been able to place.