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martes, 21 de abril de 2015

VALENCIA COURTS RULE AGAIN THAT MEETING OF CREDITORS' AGREEMENTS ARE NOT APPLICABLE TO BANK GUARANTE



Two more Bank Guarantee for El Pinet (San Jose) successfully enforced! 

Buyers accepted the 80% payment proposal from San Jose, and although Banks challenge our claim assuring that 80% agreement and 5 years payment schedule were applicable,   two Valencia Courts have just sentenced that 57/68 bank guarantees are independent from the obligation guaranteed, so any payment agreement reached with developer doesn't affect to bank guarantees.

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