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north EDITION roundtownnews.com
Issue 699
8 - 14 march 2013
Anxious wait over CAM appeal
Health matters PUBLIC MEETINGS explaining how to register correctly for state provided healthcare in Spain are planned for expats p4
Couple wait for justice Andrew Wilford’s dream of a Spanish home ended when he found CAM had issued a builder’s mortgage to the developer based on an inflated valuation. He is now are waiting for a court judgement that he hopes will bring him justice p8
Do you have a mortgage? Is there a mortgage floor rate clause on it? If so, is it abusive? p31 Joke, glorious Joke! Greedy-gutsCowell believes he can make a mega show out of anything p42
Bowled over
Members of the Benitachell Ladies Club are thinking of taking up bowling after an enjoyable morning’s introduction to the sport p63
Last years protest when the case was first heard in Hellin
by Jack Troughton OFF-PLAN HOME buyers left without ‘Bank Guarantee’ protection of their investment are anxiously waiting an imminent court judgement in a “landmark” test case. An action group of buyers successfully won its case against a shamed Spanish bank in a Spanish court last May. However Cam Bank appealed the decision. The appeal was decided this week by Albacete Appeal Court. The judgement will be announced
by the end of March – although the court has a record of early notification. The case, which has aroused massive public and media interest, surrounds 47 buyers losing 1.5 million euros after CAM failed to issue guarantees to cover deposits for the Las Higuericas Finca Parcs development near Hellin, close to the border with Murcia. Last June the court at Hellin found in favour of the Finca Parcs Action Group and the bank was described by the judge as being guilty of “banking malpractice” for its failure to protect buyers’ cash
after the bank – now Sabadell CAM – and the developer were found ‘jointly and severally’ liable. CAM and developer Cleyton GES SL were ordered to return deposits to the purchasers and pay interest and costs. The bank paid the full amount into court last August but lodged an appeal. Finca Parcs Action Group coordinator told Round Town News he and the legal team remained confident the bank’s appeal would be dismissed and the original sentence would be upheld. Continued on page 6