How To Guides
- Childbirth & Education
- Legal Formalities
- Pensions & Benefits
- Property & Accommodation
Did you know...?
- Airports and Airlines Spain
- Paramount Theme Park Murcia Spain
- Corvera International Airport Murcia Spain
- USD weekly currency update- 29 June 2015
- When Expat Eyes Are Smiling
- Meet Wincham at The Homes, Gardens & Lifestyle Show, Calpe
- QROPS 2014
- Spain Increases IHT in Valencia & Murcia
- Removals to Spain v Exports from Spain
- The Charm of Seville
- Gibraltar Relations
- Retiro Park : Madrid
- Wincham announce opening of Marbella office
- Community Insurance in Spain
- Calendar Girls
- Considerations when Insuring your Boat in Spain
- QROPS – HMRC Introduces changes that create havoc in the market place
- QROPS – All Change From April 2012
Finca Parks action group case in court May
A trial has been scheduled between 21st to 24th of May against property developer Cleyton GES SL and Caja de Ahorros del Mediterráneo on behalf of the Finca Parks action group.
The 47 group members paid their Off-Plan deposits totalling 1.5 million Euros for properties at the Las Higuericas development, located between Albacete and Murcia, to CAM Bank accounts opened by the developer Cleyton GES SL.
None of the group members received the legally required Bank Guarantees Bank Guarantees in accordance with Spanish Law, LEY 57/1968.
Despite marketing the development for 5 years as a self contained sports and leisure resort, the developer abandoned the site in May 2009 stating that the project was ‘financially unviable’. The site was abandoned with the 50 of the total 617 properties being completed, yet still with too many defects to be issued with their Cedula by the local Ayuntamiento.
Caja de Ahorros del Mediterráneo (CAM Bank), the bank recently purchased by Banco Sabadell for One Euro and described by Banco de España Governor, Miguel Angel Fernández Ordoñez at a Press Conference in September 2011 as the ‘WORST OF THE WORST’ are the co-defendants in the case.
CAM, the Bank that accepted the off-plan deposits was also contracted by the developer to issue the corresponding Bank Guarantees.
For further details see www.fincaparcsactiongroup.com
Latest News & Stories
- Apple Watch goes on sale in Spain for more than in France and Germany
- Loan to support nationwide rollout of ERTMS in Spain
- Spain to question Gibraltar’s exclusion from EU tax havens blacklist
- Spain to hike economic growth forecast next week
- Orange says public offer for Spain's Jazztel successful
- Number of Spanish emigrants nearly doubles in four years
- Spain refuses to declassify state files from 1931 to 1968
- Spain sees GDP reaching pre-crisis level by end 2016
- Vodafone loses €642 million after Ono cleanup
- EU15,000 : Spain's average wage
- Bank guarantees - when things go wrong
- What to do when your Off Plan development is behind schedule
- Things to consider when buying an Off-plan Development
- Building Regulations - Rustic Land
- Building Regulations - Urban Land