I have just been informed that our lawyer has succesfully executed our bank guarantee which is of course great news, what I am unsure about is should they have asked for interest at the time or is it normal practice to sue the developer for the interest after getting the money from the bank.
We have been told that the bank guarantees cover you for the amount you have paid as stated on each one. The only way to get legal interest paid is via the company you were purchasing from however if they did not return your money and you have had to use the bank guarantees then this is an unlikely option. We have asked about the process of suing for losses but have been told that the Spanish legal system is a lengthy process (surprisingly!!) and could end up costing lots more. Hopefully what you have had returned has gained via the exchange rate and will help with your costs. Which company were you originally purchasing from?
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