Entradas

Mostrando entradas de mayo, 2011

GM LEGAL EXPERTS NEWS / NOTICIAS DE GM LEGAL EXPERTS

Imagen
LA CAIXA,  VERY LIKELY TO REFUND DEPOSITS TO TRAMPOLIN HILLS' BUYERS


La Caixa signed with Trampolin Hills a Generic Guarantee with Trampolin Hills, in which, on the one hand, La Caixa committed to provide guarantees to Trampolin's buyers and, on the other hand, Trampolin agreed to pay some interest and commissions for every guarantee made.
There are several Magistrate's court sentences which rule that a generic guarantee covers the deposit paid by every purchaser, no matter in which account it was paid, because it is not a buyer duty to make sure that deposit is paid into an special account. It is a developers' obligation, and the Bank who signed with the builder the generic guarantee must control any funds paid by buyers to the builder and make sure the builder provides a guarantee to all of them. In this particular case, La Caixa can't excuse their liability alleging that they weren't aware about the existance of an account in Cajamar in which some buyers were p…

FOR FIRST TIME, CLASS APPEAL CLAIMING AGAINST TERRAZAS DE LA TORRE CONTRACTS' NULLITY TO BE CONSIDERED BY THE SPANISH HIGH COURT

Imagen
After a long road, and joining their forces, a group of Terrazas de la Torre's purchasers, represented by GM LEGAL EXPERTS,  have taken the contracts' nullity case away from Murcia Magistrates' Court and their appeal is going to be considered by the Spanish High Court in Madrid. This is a big achievement, because to reach the High Court isn't easy: the amount claimed must be superior to € 150,000 and amounts from different petitioners can't be summed unless the cause of the action (I mean, the main grounds of the case) is iqual or similar for all of them. 
From the very begining GM LEGAL EXPERTS prepared the case being focussed on the High Court appeal, as long as the precedents from Murcia Magistrates' Court were just supportive with Polaris (against the criteria of most of the Magistrates' Court for similar cases). And we are now proud to say that our clients have a real chance to get their deposits back.
If the High Court (Tribunal Supremo) accepts the cla…

NEW DETAILS OF THE GENERIC BANK GUARANTEE FOR SANTA ANA BUYERS RELEASED

Imagen
Over the Easter's break some buyers have posted me information that their former solicitors got from San Jose, but it was not considered relevant. And some new interesting details about the generic guarantees have been released.  1.- The SGR generic guarantee was signed before August 2005 (before contracts with buyers were singed). So SGR excuse can't be that they did not provide guarantees for deposits paid before they signed the generic policy with San Jose & Herrada. 2.- € 1,500,000 from the 6,5 millions maximum amount covered by SGR have not been used yet (learnt from a representative of San Jose over the phone). 3.- BBVA and CAM Bank also singed with San Jose and Herrada generic guarantees. BBVA provided individual guarantees to buyers of Herrada who paid on the account shown on purchase contracts (01822980330201522159). This probably means that this is a special account, so Bank shouldn't have allow the developer to withdraw funds for purposes different than buildin…