Deposit Recovery

Exceeding expectations

Spanish Deposit Recovery Solicitor

The deadline for claims is now 7th October 2020, do not delay!

At Alonso and Haro we specialise in Deposit Recovery which helps people who have lost money on failed property developments in Spain. Over the last five years we have recovered millions of pounds in deposits that many people thought were lost forever. If you have money that you paid into the bank accounts of companies that then went in bankruptcy then you may be able to recover your loses due to a change in the law regarding bank guarantees.

However, this opportunity ends soon, please see below for important information about your claim.

Do not delay! Read below for important information about your claim

We have important and urgent news for anyone who lost a deposit on a failed development during the financial crisis of 2008.

As you may know, thanks to the Spanish Act 57/68 you are entitled to claim your deposit back from the bank where the money was deposited. This Law, was created and passed to the public Interest on the 27th of July 1968, and specifically safeguards deposits given by property buyers who paid in good faith to builders when they bought off-plan properties.

This law has been cited in hundreds of recent cases and several banks have been made criminally responsible for the lost deposits of investors. Specifically, due to their negligence in not fulfilling their duty of care to secure the payments of the investors they are now being forced by Spanish Judges to return buyers deposits.However, the latest Spanish High Supreme Court Judgment released on the 20th of January 2020 and numbered 29/2020 states that the last day to claim back the deposits lost on an off plan property will be the 7th of October 2020 and after this date, you will lose your right to reclaim your lost deposit.

In order to ensure that you can continue to claim your lost deposit, after the 7th October, it is vital that you send a legal letter before action to the bank that held the deposits for your respective developer.

Alonso and Haro Solicitors are offering a FREE service to anyone who has not yet started their claim against the banks. We will send an official letter before action that will ensure that you can continue to pursue your claim after the 7th October deadline.

There will be no charge for this service. After the letter has been sent, if you decide to allow Alonso and Haro to represent you in your claim, our fees will be equal only to the amount of interest/compensation that we get from the bank.

You will receive 100% of the deposit you initially gave to the developer, that we can prove was deposited at the bank.

As Spanish lawyers we specialise in debt recovery with offices in the UK and Spain and we are proud to say that we have now recovered money on behalf of more than 500 clients. Our successes have been covered in publications such as THE TIMES (The Brief) and we have been proud to act for The Times as their Lawyer of the week to answer specific questions on this subject.

In accordance with European Data Protection regulations, and on the basis of our legitimate interest we can contact you to inform you of your right to recover your money invested, but we will need your authorisation to explain your case in detail.

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Please do not delay, contact us by any of the following methods:

• Call us our our UK number 01204328460
• Send us an email to alonso@ah-solicitors.com
• Through the form on this page.

Recent Payouts and Press

If you have a bank guarantee, be it expired or not, call Pilar Alonso any time on 01204 328 460.

6th June 2014 – BREAKTHROUGH COURT DECISION ON NON-GUARANTEE FUNDS

A new judgment from MURCIA COURT NUMBER 11 has given new hope to those creditors who transferred money to a BANCO POPULAR bank account and never received a bank guarantee for the funds they transferred to the builder HUMA MEDITERRANEO S.L.

The Court has recently ordered BANCO POPULAR to pay the full principal plus accrued interest to a client who transferred money to BANCO POPULAR and never received a bank guarantee.

Previously, Spanish Law 57/68 protected bank guaranteed investors who bought a property in Spain in the event that the property was never completed. Now, this new judgment goes further, giving BANCO POPULAR clients with no bank guarantee the chance to recover the investment they made in the failed completion in HUMA MEDITERRANEO S.L.

The judgment has said textually: “the bank can not be exempted from the responsibility of payment back to the creditors in the event of the builder failing. Payments should be refunded if the funds were transferred to a bank account and it was an agreement between the bank and the builder to guarantee the money invested, under law 57/68, even if a bank guarantee was never issued “

On the original purchase contract that the client signed with HUMA MEDITERRANEO S.L, it was stipulated that the funds would be guaranteed (even if they were not). A policy was signed by BANCO POPULAR and HUMA MEDITERRANO S.L in order to guarantee the transferred money to the builder.

BANCO POPULAR should have guaranteed the full amount transferred by every client to its bank accounts.

The judge stated that: “BANCO POPULAR was negligent in not providing a bank guarantee in this case.”

This new judgment sets a precedent and brings hope to those creditors who never received a bank guarantee for the money they transferred and where the builder failed to complete.

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Pilar Alonso

Carlos Meoro