Reply To: La Reserva

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Anonymous
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HI Steven,

Firstly, I cannot believe that your BG was an”optional extra”! đŸ˜¯ You should have one by law. Apart from that , your lawyer sounds OK, given that he is advising you to take legal action against the developer. A bank guarantee, is there to protect your deposit + interest. That is all you would get back and MAYBE, legal expenses. Any other claims for compensation would be a seperate case. As you do not have BG, then maybe you could roll it all into one case. Some one else that I know from Our development is doing just that as he also has no BG. His case was heard last week and so far I do not think he has heard of any decision. ..win or loose!

We have just been awarded our deposit + interest to be paid to us ahead of the BG because after 3 years our apartments were never built. Any other claims we are dealing with as a seperate compensation claim. Another point to bear in mind is that the bank does not pay compound interest!