Reply To: Bank Guarantee expiry date – Supreme Court resolution

#78388

Anonymous
Participant

Hi Shakeel,
We contracted to buy an apartment on an off plan development but it was not built, as the building licence was revoked. Our Lawyer actioned our BG , but the developers told the Bank not to pay us! We then had to go to Court. We won our case but the Bank appealed and so we had to have another Court case before we eventually got our money back. A ridiculous scenario. but it is happening all of the time.