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Mostrando entradas de diciembre, 2013

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…