Banco Santander sentenced to return more than 300,000 euros for Aifos development Cala del Sol in San Fernando

A law from 1968 and the interpretation of that law by Spanish judges and courts in favor of off-plan buyers of first or second homes in Spain results in the return to six claimants the savings they lost during the real estate crisis in Cala del Sol, San Fernando. At the completion date as stated … [Read more...]

Leon on Banks liabilities

Recent, December Court Decission by Leon Appeal Court stating that: Regardless the existence of a "special account", if there are enough evidences ( Bank being sole financer, Bank knowing private contracts...) for the Bank to know that those amounts were off plan payments by buyers, applying Law … [Read more...]

Law 57/68 explained by Keith Rule

A very good explanation of Law 57/68 by Keith Rule. LEY 57/1968 - AN EXPLANATION LEY 57/1968 is a short but very important Law which was implemented in the Public Interest on 27 July 1968 specifically to safeguard purchasers deposits paid in good faith to developers for off-plan … [Read more...]

Case won against Duja and Caja Canarias

Type of Document: First Instance Court Decission Title: xxxxxx CONTRA DUJA TENERIFE Y CAJA DE AHORROS DE CANARIAS.SAN SEBASTIAN DE LA GOMERA. File: xxxxxxxxxxSENTENCIA P.I..pdf Document date: 22/10/2013 Observations:  First Instance Decission won. Contract cancelled, DUJA and CAJA DE AHORROS DE … [Read more...]

3 New Bank Guarantees Found

1. DEVELOPER:  GREEN & BLUE PROPERTIES S.L. DEVELOPMENT:  LOS CORTIJOS ALTOS – PUERTO DE LA DUQUESA MUNICIPALITY: DUQUESA, MANILVA ( MALAGA) ___________________ 2. DEVELOPER:  MIRAFLORES DEVELOPMENT INVERSIONES S.L. DEVELOPMENT:  VISTAS DEL LAGO MUNICIPALITY: ARCOS DE LA … [Read more...]

CostaLuz on the media this month

EL PAIS-Spanish and International Edition in English BBC TIMES DAILY MAIL _______________________________________________________________________________________________________________________ Financial … [Read more...]

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