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GM LEGAL EXPERTS WON CASE / CASO GANADO POR GM LEGAL EXPERTS

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THIS IS WHAT MANY PURCHASERS OF SAN JOSE WERE WAITING FOR: VALENCIA MAGISTRATES' COURT RULES THAT THE RELEASE AND PAYMENT SCHEDULE AGREED ON CREDITORS' AGREEMENT DON'T AFFECT TO BANK GUARANTEE
Yes, there is finally a ruling from the Valencia Magistrates' Court that states the release and payment schedule agreed on creditors' agreement with San Jose don't affect to Bank Guarantee, so the Bank must meet now the whole payment, plus legal interest (and defense cost too). The legal grounds of the ruling could be summarize just in one sentence: the creditors' agreement was signed just by purchasers and developer, but no by the Banks, and bank guarantees weren't specifically mentioned, so it could not be considered like a waiver settlement.
This is not only an excellent new for our customer, but also for all those purchasers who voted in favor of the creditors' agreement, and were facing contradictory rulings from first instance courts.
POR FIN LO QUE MUCHO…

GM LEGAL EXPERTS WON CASE / CASO GANADO POR GM LEGAL EXPERTS

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SUCCESSFULLY ENFORCED BANK GUARANTEE FOR MAR MENOR GOLF & RESORT (POLARIS). THIS IS THE FOURTH ONE!

Valencia First Instance Courts seem to have same criteria about the enforcement of bank guarantees granted by CAM Bank for Mar Menor Golf & Resort (Polaris). A new ruling confirms that the property wasn't built in time (the urbanization wasn't completed by the time Polaris sent the completion request to the purchaser), and states also that the lack of mention to the 57/68 Act doesn't prevent the application of the Law. The main consequence of the application of the 57/68 Act is that expiration date on bank guarantee must be considered void and, therefore, not enforceable against the buyer.
EJECUTADO AVAL DE LA PROMOCIÓN MAR MENOR GOLF & RESORT. ¡Y ÉSTE ES EL CUARTO!
Los Juzgados de Primera Instancia de Valencia parecen tener el mismo criterio respecto a la ejecución de los avales otorgados por la CAM para Mar Menor Golf & Resort (Polaris). Una nueva resolución …

GM LEGAL EXPERTS LEGAL NEWS / NOTICIAS LEGALES DE GM LEGAL EXPERTS

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SEVILLE MAGISTRATES' COURT DECISION CONFIRMING THAT GENERIC BANK GUARANTEE FOR GARDENS OF MANILVA IS ENFORCEABLE BECOMES DEFINITIVE
As posted last October, Seville Magistrate Court decided that Generic Bank Guarantee for Gardens of Manilva (Manilva Costa SA) was enforceable, although individual bank guarantees weren't given to purchasers. Therefore, Caixabank was sentenced to refund deposit plus legal interest, and to pay the defense cost as well.
Given that Caixabank did not file the appeal to the High Court within the deadline, the aforementioned ruling has become definitive, so turns into an important precedent for other purchasers in same position.
DEVIENE FIRME LA SENTENCIA DE LA AUDIENCIA PROVINCIAL DE SEVILLA QUE DECLARA EJECUTABLE Y VALIDO EL AVAL GENÉRICO (LÍNEA DE AVAL) PARA LA PROMOCIÓN JARDINES DE MANILVA  
El pasado mes de Octubre publicamos que la Audiencia Provincial de Sevilla sentenció a Caixabank a pagar a un comprador de una vivienda en Jardines de Manilva (Ma…

GM LEGAL EXPERTS WON CASE / CASO GANADO POR GM LEGAL EXPERTS

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ROYAL SUITES OF MARBELLA: MADRID MAGISTRATES' COURT RULES THAT BANK GUARANTEES ARE ENFORCEABLE, DESPITE PURCHASE CONTRACT WASN'T CANCELLED. EXPIRATION DATES ON GUARANTEES ARE NOT ENFORCEABLE AGAINST PURCHASERS
Caja Granada (now BMN) has always rejected settlements with purchasers of the Royal Suites of Marbella development (built by Irish Developments in Benahavis), because the bank cancelled the guarantees at the expiration date (2006), and the purchase contracts were not cancelled (although purchasers held several meetings with developers' representatives to recover their deposits). 
Therefore, purchasers were forced to start proceedings and sue BMN, and unfortunately some of them had to deal with Judges in First Instance Court who still understand that expiration dates on bank guarantees are valid and enforceable against the purchaser.
But the Magistrates' Court from Madrid has just put things right, and ruled that the bank guarantees issued by Caja Granada for Royal S…

JUDICIARY NEWS / NOVEDADES JURISPRUDENCIALES

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THE ALICANTE MAGISTRATES' COURT SENTENCES AGAIN BANKS TO REFUND DEPOSITS OF SANTA ANA DEL MONTE UNDER THE PROVISIONS OF GENERIC BANK GUARANTEE, THIS TIME TO THE THREE BANKS!
These are excellent news for the purchasers of Santa Ana del Monte. You probably already know that is not the first time that Alicante Magistrates Court sentences Banks to refund deposits to Santa Ana del Monte puchasers under the provisions of the generic bank guarantee, but it is the first one that sentences the three Banks (SGR, BBVA and Banco Pastor) to meet the payment jointly.
This ruling resolves some controversy about the involvement and liability of Banco Pastor, as some first instance courts (just a minority) were still sentencing that the generic bank guarantee of Banco Pastor was not made to cover purchasers' deposits of Santa Ana. The Alicante Magistrates' Court states that, as long as Banco Pastor issued some individual bank guarantees for purchasers of Santa Ana, the Bank is going against …

GM LEGAL EXPERTS WON CASE / CASO GANADO POR GM LEGAL EXPERTS

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NEW BANK GUARANTEE FOR A MAR MENOR GOLF & RESORT'S VILLA SUCCESSFULLY ENFORCED. THIS IS THE THIRD ONE!
Courts from Valencia keep on supporting claims of Mar Menor Villas' Purchasers (Polaris World), and are sentencing Banco Sabadell (before called CAM Bank) to refund deposits plus legal interest and defense cost, despite the cancellation of the purchase contract is still being discussed in a different Court.
EJECUTADO OTRO AVAL DE UNA VILLA DE LA PROMOCIÓN MAR MENOR GOLF & RESORT. YA ES EL TERCERO!
Los Juzgados de Valencia han estimado nuevamente una demanda de un comprador de una Villa de la promoción Polaris World (Mar Menor), y han condenado al Banco Sabadell (antes CAM) a devolver al comprador las cantidades anticipadas, más el interés legal y las costas, a pesar de que la resolución del contrato todavía está siendo discutida en un Juzgado diferente.

GM LEGAL EXPERTS CASE WON / CASO GANADO POR GM LEGAL EXPERTS

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MAGISTRATES' COURT FROM SEVILLE REJECTS THE APPEAL FILED BY CAIXABANK AND CONFIRMS THAT THE GENERIC BANK GUARANTEE FOR GARDENS OF MANILVA (MANILVA COSTA) IS ENFORCEABLE
The appeal the Caixabank filed against the ruling that sentenced them to meet the payment of the deposit plus legal interest and defense cost to a purchaser of Gardens of Manilva (Manilva Costa), under the provisions of the generic bank guarantee, has been rejected by the Magistrates' Court from Seville, that has also sentenced the Bank to pay the defense cost for the appeal.
These costumers of GM LEGAL EXPERTS bought their properties through Ocean View Properties, to whom they paid the deposits, and their purchase contracts weren't signed by Manilva Costa, so the case was complicated. But looks like they can see now the light at the end of the tunel. 
It's also a good new for all the Gardens of Manilva purchasers who have lost the hope to recover their deposits.
LA AUDIENCIA PROVINCIAL DE SEVILLA DESESTIMA…

GM LEGAL EXPERTS BLOG RELEASE / COMUNICADO DE GM LEGAL EXPERTS

Hello everyone,
Guadalupe Sánchez is organizing meetings in Belfast on October 21st (evening) and in London on October 22nd. So anyone interested in meeting up please send a private message or email us to info@gmlegalexperts.com.
Best Regards,
GM LEGAL EXPERTS

GM LEGAL EXPERTS WON CASE / CASO GANADO POR GM LEGAL EXPERTS

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ONCE AGAIN, VALENCIA COURT RULES THAT RELEASE AND PAYMENT SCHEDULE AGREED WITH SAN JOSE ON CREDITOR'S AGREEMENT DON'T APPLY TO BANK GUARANTEE. ITSN'T RELEVANT THAT CONTRACT CANCELLATION'S AGREEMENT STATED THAT PURCHASERS BREACHED THE PURCHASE CONTRACT
Other customers of us who bought in El Pinet (San Jose Inversiones) are getting the whole deposit, plus legal interest and defence cost paid by Banco Popular, although the cancellation agreement stated that they purchase contract was breached by them and, furhtermore, they voted in favor of the creditors' agreement.
Our clients signed a cancellation agreement (just wrote in Spanish), which stated that, as long as they refused to complete, they breached the purchase agreement. This agreement was authoirzed by the Bankruptcy Court. Later on, they voted in favor of the creditors' agreement.
After enforcing the bank guarantee, Bank claimed as defense that 57/68 Act didn't apply because contract was breached by purcha…

GM LEGAL EXPERTS WON CASE / CASO GANADO POR GM LEGAL EXPERTS

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ENFORCED GENERIC BANK GUARANTEE FOR EDIFICIO TORREBLANCA IN CASTELLON (PROMOCIONES AUGIMAR). BANKIA SENTENCED TO REFUND DEPOSIT PLUS LEGAL INTEREST AND DEFENSE COST TO PURCHASERS WHO NEVER RECEIVED INDIVIDUAL BANK GUARANTEES
We are proud to announce another success of GM LEGAL EXPERTS Legal Team in Court. This time is about the Torreblanca development, built in Castellon by AUGIMAR.
Although our customer never received an individual bank guarantee, some information obtained through the Bankruptcy proceeding followed against the developer guided us to the generic bank guarantee signed by Bankia (before called Bancaja) with Promociones AUGIMAR.
The Court from Valencia has estimated in full our claim for the enforcement of that generic bank guarantee, and has sentenced Bankia to refund to our client the deposit, plus legal interest and defense cost, despite he never received an individual bank guarantee and his deposits wasn't paid into the "special" account.
BANKIA CONDENADA A…

NEWS ABOUT JUDICIAL DECISIONS / NOVEDADES JURISPRUDENCIALES

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BRAND NEW RULINGS FROM MAGISTRATES COURTS SENTENCING BANKS TO REFUND DEPOSITS UNDER THE PROVISIONS OF GENERIC BANK GUARANTEES
Magistrates' Courts from Madrid and Cadiz have recently sentenced Banks to refund deposits plus legal interest to purchasers, although they never received individual bank guarantees.
The legal reason to sentence banks is based on the generic bank guarantee agreements signed between Banks and developers.
As many times before, Courts understand that the lack of individual bank guarantees, and the payment of the deposit into an ordinary account, rather than into a "special" one, can't prevent purchasers to claim to the Banks the refund of deposits, given that the breach of the developer's obligation is not enforceable against the purchasers, whose rights cannot be waived under the 57/68 Act and General Consumers protection Laws.
NUEVAS SENTENCIAS DE DISTINTAS AUDIENCIAS PROVINCIALES QUE CONDENAN A LOS BANCOS A LA DEVOLUCIÓN DE LAS CANTIDADES ENTR…

GM LEGAL EXPERTS WON CASE / CASO GANADO POR GM LEGAL EXPERTS

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TWO MORE GARDENS OF MANILVA'S PURCHASE CONTRACTS CANCELLED WITHIN THREE MONTHS. NOW READY TO CLAIM DEPOSITS REFUND TO BANKS


The Mercantil court from Seville has sentenced the cancellation of two purchase contracts for Gardens of Manilva, phase I, together with the registration of the deposit paid as credit in the Bankruptcy proceeding; despite the money was paid to the agent, Ocean View Properties, and purchase contract wasn't signed by the developer, Manilva Costa S.A. (who originally refused to have received the deposit).
The claim filed by our Firm to show the contractual relationship with the builder and get the contracts cancelled and the deposit registered as credit has been finally admited by the defendants (Manilva Costa and the Trustees in Bankruptcy), so our clients are ready to enforce the Bank Guarantee granted for the whole phase I by Caja de Ahorros de Huelva y Sevilla (now Caixabank).
The claim has been managed within three months time, so our clients have saved lo…

GM LEGAL EXPERTS WON CASE / CASO GANADO POR GM LEGAL EXPERTS

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VALENCIA COURT RULES THAT DEBT RELEASE AGREED WITH HERRADA DEL TOLLO DOESN'T AFFECT TO BANK GUARANTEE
The Bank Guarantee was enforced in behalf of a Santa Ana del Monte purchasers who voted in favour of the Herrada del Tollo creditors' agreement, so accepted the 35% debt release. Although they didn't claim the cancellation within the meeting of creditors process, GM LEGAL EXPERTS arranged the cancellation with the developer before enforcing the guarantee, which was just a copy.
The Bank was claiming that 35% release should also apply to bank guarantee, under the provisions of the general rules for bank guarantees regulated on Spanish Civil Code. But the Judge supported our argument, ruling that this bank guarantee isn't an standard one, as is regulated by the 57/68 Act, which is an special a mandatory law that states that purchasers' rights cannot be waived. In addition, the judge states that Meeting of Creditors Act just allows the extension of the release to bank g…

PRESS REPORT / NOTICIAS DE PRENSA

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GUADALUPE SÁNCHEZ, MENTIONED AGAIN ON THE SPANISH NEWSPAPER "EL PAIS". THIS TIME IS ABOUT THE RECOVERY OF DEPOSITS PAID TO TRAMPOLIN HILLS 
The Spanish National Newspaper "El Pais" published last Sunday, July 7th, a report about purchasers who have recovered their deposit after claiming Banks involved with developers under the provisions of the 57/68 Act.
Guadalupe is mentioned on this report, as she won a case against Caixabank, claiming the refund of a deposit paid to Trampolin Hills Golf Resort.
The link to the press new is below:
http://elpais.com/elpais/2013/07/09/inenglish/1373371128_743177.html


GUADALUPE SÁNCHEZ, DE NUEVO MENCIONADA EN EL PERIODICO "EL PAIS". ESTA VEZ EN RELACIÓN A LA RECUPERACIÓN DE DEPÓSITOS ENTREGADOS A TRAMPOLIN HILLS GOLF RESORT
El periódico de tirada nacional "El Pais" publicó el pasado Domingo, día 7 de julio, un reportaje sobre compradores que han recuperado sus depósitos tras demandar a las entidades bancarias implicad…

GM LEGAL EXPERTS WON CASE / NUEVO CASO GANADO POR GM LEGAL EXPERTS

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SUCCESSFULLY ENFORCED TWO MORE BBVA BANK GUARANTEES FOR EL PINET (SAN JOSE INVERSIONES Y PROYECTOS URBANÍSTICOS) 
Two more purchasers of San Jose Inversiones in El Pinet Residential that moved recently to our Law Firm are receiving their deposits back, plus legal interest, and with absolutely no cost to them. And in a record time of one month!
You will agree with me that this is very encouranging new for all those other purchasers who haven't decide to enforce their bank guarantees yet. 
EJECUTADOS DOS NUEVOS AVALES DEL BBVA DE LA PROMOCIÓN EL PINET (SAN JOSE INVERSIONES Y PROYECTOS URBANÍSTICOS)
Otros dos compradores de San Jose Inversiones en la promoción El Pinet representados por nuestro bufete han recuperado las cantidades anticipadas, incrementadas con el interés legal correspondiente, y sin coste alguno para ellos. Y todo en el tiempo record de un mes!
Estaréis de acuerdo en que es una noticia alentadora para todos aquellos compradores que no se ha decidido aún a ejecutar sus av…

PRESS REPORT / NOTICIAS DE PRENSA

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GUADALUPE SÁNCHEZ MENTIONED ON "EL PAIS", SPAIN MOST WIDELY SOLD NATIONAL NEWSPAPER, IN RELATION TO "RESIDENCIAL SECUOYA" GENERIC BANK GUARANTEE CLAIM
You can link to the new published on El Pais last May 26th, 2013
http://economia.elpais.com/economia/2013/05/24/actualidad/1369425866_941056.html
GUADALUPE SÁNCHEZ,  EN UN ARTICULO DE "EL PAIS" RELATIVO AL RESIDENCIAL SECUOYA Y A LA DEMANDA FORMULADA POR UNA COMPRADORA AL AMPARO DE LA EXISTENCIA DE UNA LINEA DE AFIANZAMIENTO.
El enlace al artículo, publicado en El Pais el pasado 26 de Mayo.
http://economia.elpais.com/economia/2013/05/24/actualidad/1369425866_941056.html

GM LEGAL EXPERTS CASE WON / NUEVO CASO GANADO POR GM LEGAL EXPERTS

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ANOTHER CAM BANK GUARANTEE FOR A POLARIS WORLD MAR MENOR VILLA SUCCESSFULLY ENFORCED
We did it again! Another Bank Guarantee issued by CAM Bank to guarantee deposits paid on a Polaris World Mar Menor Villa has been successfully enforced.
As on the previous case, First Instance Court from Valencia understands that property's building wasn't finished in time because the urbanization was not completed when the purchaser was called to complete by Polaris World.
Cam Bank also referenced a preliminary ruling from Murcia Courts (purchasers was claiming the nullity of the Contract and Polaris the completion of the property) and requested the suspension of the proceeding, but the Valencia First Instance Court states that it is a different process, and the Bank Guarantee can be enforced as long as purcharser is fullfilling with 57/68 requirements because has provided evidences of the completion's delay
Judge sentences also that 57/68 Act is applicable although is not mention on the guar…

GM LEGAL EXPERTS WON CASE / CASO GANADO POR GM LEGAL EXPERTS

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CONFIRMED THE RULING SENTENCING CAJA GRANADA TO REFUND DEPOSIT TO ROYAL SUITES OF MARBELLA PURCHASER (IRISH DEVELOPMENT)
The Magistrates Court from Madrid has just dismissed the Appeal against the ruling that sentences Caja Granada to refund deposit plus legal interest to a purchaser of Royal Suites of Marbella (Irish Development SA).
The ruling turns now definitive, and our client will finally get his money back, after almost 10 years of nightmare.
CONFIRMADO EL AUTO QUE CONDENA A CAJA GRANADA A PAGAR EL DEPÓSITO A UN COMPRADOR DE ROYAL SUITES OF MARBELLA (IRISH DEVELOPMENT)
La Audiencia Provincial de Madrid a desestimado el recurso de apelación contra el Auto que condenaba a Caja Granada a pagar a un comprador de la promoción "Royal Suites of Marbella" la totalidad del depósito entregado a la promotora (Irish Developments SA), incrementado con el interés legal correspondiente.
La resolución es ahora firme, y nuestro cliente recuperará finalmente su dinero después de 10 años de …

GM LEGAL EXPERTS WON CASE / CASO GANADO POR GM LEGAL EXPERTS

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DRAINAGE WATER SPOUT THAT DUMPED RAINWATER FROM STATE ROAD TO SEVERAL PROPERTIES ORDERED TO BE REMOVED
The Ministry of Development orders to the State Roads Demarcation in Valencia to remove the drainage water spout built in 2006 on the Elche - Crevillente Road, which dumped the rainwater to several properties, causing floods and large number of damages over the years, everytime rainfalls occured.
Although the State Road Demarcation initially rejected that floods and damages were connected with the drainage water spout, claiming that was the natural course of the water flow; the Ministry of Development has confirmed the effect relationship, and consequently, har ordered the State Road Demarcation to remove the spout and execute the necesary works to avoid further damages and floods in the future.
Last Sunday, June 30th, 2013, the Newspaper "Diario Información", published a report about this ruling, as affects to the neighbours on the area. The reports features some pics of myse…

GM LEGAL EXPERTS WON CASE / CASO GANADO POR GM LEGAL EXPERTS

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CAIXABANK SENTENCED TO REFUND DEPOSIT PLUS LEGAL INTEREST TO PURCHASERS OF MANILVA COSTA (GARDENS OF MANILVA) UNDER THE PROVISIONS OF A GENERIC BANK GUARANTEE
First Instance Court of Seville has sentenced Caixabank to refund deposit, plus legal interest and defence cost, to GM LEGAL EXPERTS customers, who purchased a property to Manilva Costa in the resort "Gardens of Manilva". Althought their purchase contract wasn't signed by the developer, and deposits were paid to the Agent, Ocean View Property, the claim I filed at the Mercantile Court of Seville that is dealing with the bankruptcy proceeding of Manilva Costa was admitted by the Trustees in Bankruptcy and the developer, so we could move fast to the First Instance Court to enforce the generic bank guarantee that Caja del Monte (now integrated into Caixabank) signed with the developer.
in the process to enforce the generic bank guarantee, Bank was claiming as defence that guarantee was made to cover just about 2 million…

GM LEGAL EXPERTS WON CASE / CASO GANADO POR GM LEGAL EXPERTS

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GM LEGAL EXPERTS SUCCEED IN ENFORCING A BANK GUARANTEE FOR A VILLA IN POLARIS MAR MENOR GOLF RESORT 
We have suceeded in enforcing a bank guarantee for Mar Menor on the bases of the two months delay on the completion, and the lack of construction of the urbanization by time shown on purchase contract for the villa's completion.
Polaris contracts for Mar Menor state, in general, that properties will be delivered within 18 months from the starting on the building. To enforce this guarantee, GM LEGAL EXPERTS got documentary evidences that the habitation certificate for the villa was obtained with a delay of two months after the original deadline. Furthermore, we provided evidences that the urbanization was not finished by that time, although it was a major factor for our customer to purchase the property. 
Although the contract does not state a completion date for the whole urbanization, the Court' understanding is that the misleading content of the contract is not enforceable again…

GM LEGAL EXPERTS WON CASE / CASO GANADO POR GM LEGAL EXPERTS

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COPY OF A BANK GUARANTEE FOR SANTA ANA DEL MONTE ISSUED BY BANCO PASTOR SUCCESSFULLY ENFORCED
New ruling from Valencia Magistrates' Court confirms that copies of Bank Guarantees are enforceable, as long as there are no doubts about its authenticity or veracity.
In this specific case, GM Legal Experts claimed to Banco Pastor the delivery of the original guarantee by means of burofax (legal letter), and on its reply the Bank did not claim that guarantee was a fake. And this has been good enough for the Magistrates' Court from Valencia, in order to execute the copy of guarantee through the enforcement procedure.
Banco Pastor has been sentenced to refund to our customer the deposits paid to Herrada del Tollo, plus legal interest (calculated from the payment to developer) plus defence cost. This ruling definitive (Bank cannot appeal the decission).

EJECUTADA JUDICIALMENTE UNA COPIA DE UN AVAL BANCARIO PRESTADO POR EL BANCO PASTOR PARA LA PROMOCIÓN SANTA ANA DEL MONTE
Nueva resolución de…

JUDICIARY NEWS / NOVEDADES JURISPRUDENCIALES

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SPANISH HIGH COURT SENTENCES THAT MORTGAGES' FLOOR CLAUSES COULD BE  CLAIMED VOID IF THERE WAS "LACK OF TRANSPARENCY"
You can follow this link to ge the press report issued by the High Court yesterday: High Court Press Report

As you probably imagine, this decission affects thousands of customers, who did not receive accurate and clear information from the Bank about these clauses when the mortgage was granted.
EL TRIBUNAL SUPREMO DECLARA LA NULIDAD DE LAS CLÁUSULAS SUELO DE LAS HIPOTECAS EN LOS CASOS DE FALTA DE TRANSPARENCIA
Mostramos a continuación el enlace al comunicado de prensa emitido por el Tribunal Supremo en el día de ayer:
Comunicado de Prensa Tribunal Supremo
Es fácil imaginar que se trata de una decisión que afectará a miles de consumidores que no recibieron información precisa y clara sobre este tipo de cláusulas al concertar el préstamo hipotecario.

LEGAL NEWS / NOVEDADES LEGALES

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GENERIC BANK GUARANTEE COVERS DEPOSITS FOR PROPERTIES PAID TO RIVIERA COAST INVEST
Did you purchase a property to Riviera Coast Invest and you think that you will never recover your money? Finally good news for you! BBVA and Riviera Coast Invest did signed a generic bank guarantee agreement to cover purchasers' deposits.

As informed on previous post, most recent precedents from Magistrates' Court state that the lack of an individual guarantee doesn't prevent the purchaser to claim the refund to Bank or Insurance Company, as the builder's failure to deliver  a guarantee is not enforceable against the purchaser, whose rights are protected by a mandatory law (57/68 Act) and cannot be waived.

LÍNEA DE AVALES QUE GARANTIZA LAS ENTREGAS A CUENTA DEL PRECIO DE COMPRA DE VIVIENDAS A RIVIERA COAST INVEST


Compraste una vivienda a Riviera Coast Invest and crees que nunca recuperaras tu dinero? Pues por fin buenas noticias! BBVA y Rivera Coast Invest firmaron una línea de avales en ga…

GM LEGAL EXPERTS WON CASE / CASO GANADO POR GM LEGAL EXPERTS

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VALENCIA COURT RULES THAT DEBT RELEASE AGREED BY PURCHASER WITH HERRADA DEL TOLLO ON THE CREDITORS' AGREEMENT DOESN'T APPLY TO BANK GUARANTEE
Yes, we have done it! We have won a case that creates an important precedent for many Herrada del Tollo and San Jose purchasers who voted in favour of the creditors's agreement, and face now that Banks rejects the payment of the guarantee claiming that same release and payment extension period agreed with developer apply to bank guarantees.
Valencia First Instance Court nº 15 has finally supported GM LEGAL EXPERTS arguments, ruling that the release and payment extension period just affect the developer, but don't apply to bank guarantees, as long as the creditors' agreement doesn't include specific waivers or mentions to bank guarantees. Furthermore, judge sentences that bank guarantees given to purchasers are ruled by an specific and mandatory law, 57/68 Act, which states that purchasers' rights cannot be waived.
UN JUZ…