Recovering Payments to Royal Vinedos del Mar
Recovering Payments to Royal Vinedos del Mar has been a contentious issue since the project ceased development almost a decade ago. This followed the collapse of the DUJA Group (Desarrollos Urbanísticos Jiménez Álvarez, Sociedad Limitada or DUJA S.L) which had previously been known as the Royal Marbella Group.
Royal Vinedos del Mar was a proposed Royal Marbella development to be built by the now defunct Grupo Labaro. It was scheduled to be built on a parcel of land beside the La Duquesa Golf and Country Club in Manilva. This is right in the centre of one of Spain’s Costa del Sol’s premier ‘lifestyle’ destinations. The development, however, was never built. In fact, much of it was never even started. As you can see from the picture attached, it was left as a building site.
The collapse of the proposed development left an awful lot of people significantly out of pocket. Downpayments for upmarket property on the development were significant. It was proposed as a high-end, luxury apartment and villa development in one of the Costa del Sol’s upmarket resort locations. It ended up costing investors hundreds of thousands of Euros and, in some cases, millions.
Sir Geoff Hurst famously took the promoters, including an Irishman called Michael Hone, to court in the UK. He won his case but has not, to this day, received any money from taking that legal route to payment recovery.
There have, however, been successful judgements against the bank into which funds were lodged for this development under Ley 57/68. (You can find out all about this Spanish law in our post ‘What is Ley 57/68‘). You can also read information here on successful judgements against Corporación Bancaria, Sociedad Anónima which have resulted in the repayment of the deposited funds plus interest to the clients in question.
If you have paid money for a property in Royal Vinedos del Mar that was subsequently not built you are entitled to make this same claim to have your payments refunded to you. Because there is now precedent, and because our office has been successful in taking a number of cases against the bank in question, we are in an unprecedented position to recover your investment.
Our solicitors in Spain are currently negotiating with the legal representatives of the bank with a view to reaching an early settlement agreement for a further 30 cases that are currently in the pipeline. If these negotiations are successful it would mean that the usual 12 to 18 month process for payment recovery from Spanish banks could be drastically reduced.
Don’t waste any time. If you have paid funds for this development it is very important that you ‘Apply Now’ for a refund of your Royal Vinedos del Mar payments. There is a 15 year statute of limitations on this reclaim process in Spain, so you do not have a lot of time in which to make an application.