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Brit buyers sue developer

Source: Global Edge - Tue 4th May 2010

A group of British buyers is taking legal action against Calidona, a developer based in Murcia in Spain, for breach of contract.

The group, represented by British solicitors Irwin Mitchell, have all purchased off-plan property in the Covera Golf and Country Club in Murcia. The investors have paid deposits and stage payments of up to 200,000 Euros for properties worth between 190,000 and 550,000 Euros.

Breach of contract

Irwin Mitchell argue that Calidona is in breach of contract for not having built luxury facilities that were promised at the time of sale which included a five-star hotel, in-door swimming pool and equestrian centre.

"The group claim that none of the five star leisure facilities have been built, and that they are now being chased for final payment and face the threat of being sued under Spanish law by the developers Corvera Golf and Country Club, SL, despite being informed that building licences are not even in place for some facilities," said Irwin Mitchell in a statement.

Misled ?

Irwin Mitchell claim their clients have been "misled by the developers" - "These people want their money back or all the facilities they were promised to be built it really is as simple as that".

Tip of the ice berg?

Although over the last 12 months, a significant number of companies including Masa International and Martinsa-Fadesa have requested creditor protection, very few legal cases have been successfully launched by investors to try and reclaim deposits and stage payments.

However if Irwin Mitchell or any of the cases being considered by a new "non win, no fee" are successful, this could quickly change.

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