New case won: SABADELL SOLBANK must return almost 500,000 Euros to buyers at the Cala Romántica development in Mallorca for a failed off plan property development.

This was ordered on 19th December 2017 by the First Instance Court Number 8 of Marbella, Malaga, Spain. The responsibility derives from the issuance by BANCO CAM (now SABADELL SOLBANK) of a General Line of Guarantees for the refund of advanced payments according to Law 57/1968.   This is a new … [Read more...]

45 Cases Won against Banks in 2017

  1525/2014 ORIHUELA P1 SGR, BBVA, BANCO SABADELL HERRADA DEL TOLLO S.L. SANTA ANA DEL MONTE 1227/2015 GRANADA P2 BANCO SABADELL RUDINA MIRADOR DE IZNALLOZ 1486/2016 ELCHE P1 BBVA (CATALUNYA BANC SA) BRONCHO PROMOCIONES LA TERCIA … [Read more...]

Costaluz won 42 times against banks so far in 2017

CITY COURT BANK / INSURER PROMOTOR DEVELOPMENT ORIHUELA P1 SGR, BBVA, BANCO SABADELL HERRADA DEL TOLLO S.L. SANTA ANA DEL MONTE GRANADA P2 BANCO SABADELL RUDINA MIRADOR DE IZNALLOZ ELCHE P1 BBVA (CATALUNYA BANC SA) BRONCHO PROMOCIONES LA TERCIA … [Read more...]

How is Case Law evolving for actions against off-plan developer’s Banks?

Quite brilliantly!  More and more for the protection of buyers and the fair equilibrium of risks and guarantees in that field.  A very human centered approach.  Good for the Spanish Judges. The last relevant Sentences by Provincial Appeal Courts are those which negate the banks argument which was … [Read more...]

Courts against Banks in Spanish illegal properties

Another great decision dated April 2017 by Alicante Provincial Appeal Court Section 9 in a case against CAIXABANK regarding solution to urban illegalities. Law 57/1968 is applied to a case of urban illegality where the buyer had been living in the house for 9 years with no habitation … [Read more...]

Caixabank must pay more than one million euros for failed off-plan ‘Jardines de Manilva’ property development in Estepona, Costa del Sol

In March 2017, the Court of First Instance No.4 in Estepona ordered Caixabank (previously Cajasol) to pay a group of British buyers the sum of 958,275.30€ plus the corresponding legal interest. The properties were not completed on time according to the Purchase Contracts which had been cancelled … [Read more...]

Responsibility of the bank in urban unlawfulness

La Reserva de Marbella was one of the illegal developments that, nevertheless, was finished and “occupied" by its buyers. In these cases where the buyer signs a Notary sales deed for the purchase of a non-licensed house, he is placed in a legal "limbo" in which he can "occupy" his property - … [Read more...]

Corvera Golf & Country Club – Bankruptcy procedure

LEY 57/1968 – RESPONSIBILITY OF THE FINANCIAL INSTITUTION – BANK OR INSURER On 16 December, the Mercantile Court Number One of Murcia declared, at the request of creditors represented by the Costaluz Lawyers & DeCastro legal teams, the insolvency and administration of Corvera Golf & … [Read more...]

Trampolin Hills and liability of La Caixa and other banks according to LEY 57/1968

Developments like Trampolin Hills were widely known during the real estate boom due to the big number of affected victims. Location of guarantees was also specially complicated due to the bad administration of the whole business. One of the real advantages of a development going into creditors … [Read more...]

Off Plan Property developments and developers we have won cases against

If you have lost money on an off plan development in Spain please contact us today for a free appraisal of your case. We have won more than 230 cases against off-plan property developer's banks on the developments listed below. These are not just won cases, but won cases where our clients have … [Read more...]

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