Blogs and advice from Industry leading Specialists
Valuable Opinions, Comments & Gossip
Financial related News & Articles relating to Spain
Latest News, Stories
& Hot Topics
Various Tools & Widgets to help with your financial needs
Tools & Widgets to
help with finances
Polls, Surveys and Opinions featured throughout Tumbit
Featured Polls, Surveys & Stats
Discussions, Advice & Topical Chat
Discussions, Advice & Topical Chat

Judgement passed in favour of Finca Parcs Action Group

Source: Press Release : Finca Parcs Action Group - Sun 10th Jun 2012
Judgement passed in favour of Finca Parcs Action Group

The First Instance Court of Hellin on Friday returned their verdict in favour of the group of 47 homeowners in their case again the CAM Bank and developer, Cleyton GES SL .

The court rule that 1.5 Million Euros should be returned to the 47 members of the Finca Parcs Action Group for properties that were never built at the abandoned Las Higuericas, Finca Parcs development close to Agramón, Albacete.

>> Click HERE to find out more about Bank Guarantees in Spain<<

The Judge declared the 55 sales contracts terminated due to "serious breaches" by the developer, in particular, "the long and indefinite delay in delivery of the properties, the failure to obtain the First Occupation Licences and the lack of Bank Guarantees for deposits paid by the buyers". The Judge also stated that CAM Bank "failed in its legal obligations to control the use of off-plan deposits paid in advance for this development".

Comment on this Story

Be the first to comment on this Story !!

Related Partners

Recommended Items

Related Articles

Related Blogs