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Issue 766
20-26 June 2014
Off Plan ‘losers’ win
FIVE BRITISH families who saw the dream of a home in the sun shattered over a collapsed development have won back over 300,000 Euros in lost deposits. by Jack Troughton
Rob Bonovox
International Charity Concert in planning stages IT’S BEEN almost seven years since Torrevieja last held a major International Charity event in Eras de la Sal. Now, Artists Against Cancer, the entity formed by local entertainer Rob Bonovax and his wife Sue, are on a mission to revive the International Charity Day by staging a major show in Torrevieja. Read the full story on page 23.
See page 70
In another historic milestone, a court has ruled a Spanish bank failed in its duty to provide off plan purchasers with a guarantee and keep money safe in a “special account”. Court No.4 in Totana, Murcia, ruled Banco Popular must return deposits, plus interest, and pay legal costs regarding the failed Almanzora Country Club project in Almeria being built by developer Huma Mediterraneo SL. The case is seen as an important victory by lawyer Carlos Baos of Denia-based solicitors White and Baos because it will help other losers win justice. And RTN has allowed itself a little pat on the back after putting some of the parties in touch with the lawyers – after featuring a similar court victory on its front pages when CAM Bank was ordered to repay almost 1.5 million Euros to 47 buyers in the Finca Parcs development in Albacete, a judgement upheld on appeal.
The Almanzora Country Club problem dated back to 2005 and some of the worst excesses of the Spanish property boom. DEBTS Huma Mediterraneo – declared insolvent last year with reported debts of over 115 million Euros – had looked to build some 1,800 villas but had no planning permission and a director was later found guilty of planning offences. Mr Baos, who writes a legal column for RTN, said when buying off plan, clients were given the strong consumer protection granted under Ley 57/68. “It tries to be really protective See page 34 of the consumer.” He said some individuals were given a guarantee and funds held in a “special account” – and so received their cash back. “Because some individuals had guarantees, the bank knew they had to be provided and they needed to have the money in a special account. Continued on page 4