No 442
Monday, 29th October, 2012
Tel: 96 673 0057
A court in Murcia has ruled on a landmark case, that could see thousands of victims of the property bust receive refunds for deposits and part payments, as the responsibility for ensuring guarantees in some cases is been confirmed as being that of the bank. Spanish solicitor Oscar Ricor, of law firm Ricor Abogados, (ww.ricorabogados.com), has
been fighting the case for a couple who had innocently put down a deposit on an “offplan� home, believing that their property would be built in the time stated, but then suffered the loss of their money as the developer had ceased trading. However, in this particular case, the bank had issued a guarantee to the developer, which stated that they would indeed provide funding for the project, ensuring that the money received from clients in what could be a risky investContinued on Page 2