Getting Money back from Bankrupt Developers
You may well have found this post by searching for something along the lines of ‘Getting Money back from Bankrupt Developers’, particularly in Spain. Most developers have no money to repay investors, so it is advisable to take action against the Spanish bank that took your money instead. There is precedent and many cases have been won using Ley 57/68 legislation.
There is a huge array of property developments in Spain that became bankrupt before completing all, or in some cases, any of the the necessary construction. Many others were built but Licences of First Occupation or Title Deeds never materialised due to planning issues.
Some of the developments that have failed to complete all or part of their construction process are included below. Just remember, the list is not exhaustive, there are many hundreds of others:
Alboran Hills, Bel Air, Benattalaya, Cortijos de la Bahia, Duquesa Golf, Estrella de la Bahia, Miraflores, Montealmendros, Pez Luna Sotogrande, Princess Kristina, Retiro Bel Air, Royal Marbella, Royal DUJA, Terraza de la Bahia & Vista Rocas.
We can also make claims for incomplete Moroccan property if the payments can be traced to Spanish banks. Some of the developments include:
Residences du Soleil (Fadesa, then Fadesa Maroc and now Excelia), Le Jardin de Fleur (Property Logic owned by Sean Cusack) and numerous other developments in Mediterranea Saidia.
If you have paid for an off-plan property in any of these, or other, developments then we can assist you to recover your funds using Spain’s Ley 57/68.