GARDENS OF MANILVA: GENERIC BANK GUARANTEE SUCCESSFULLY ENFORCED (AGAIN)

Yes, we did it again, and Caixabank has been sentenced to pay deposit, plus legal interest and legal fees to our customer, who bought a property in Gardens of Manilva through Ocean View Properties, but never got an individual bank guarantee.

Seville Court judgement is pretty clear: lack of individual bank guarantee is not enforceable against buyers, and cover restrictions (like credit limits) either. As long as 57/68 Act states the purchaser right cannot be waived, Banks who committed to release individual guarantees (on generic bank guarantee agreements) should face liability.

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