GM LEGAL EXPERTS WON CASE BANKS SENTENCED TO PAY 800,000 EUROS PLUS INTERESTS TO SEVERAL PURCHASERS OF SANTA ANA DEL MONTE WHO NEVER GOT INDIVIDUAL BANK GUARANTEES, AS A RESULT OF A CLASS ACTION LAWSUIT SGR & BBVA have been sentenced to pay about 800,000 euros plus legal interest to several purchasers of Santa Ana del Monte (Jumilla), who joined a class action lawsuit over enforcement of generic bank guarantees, as the court understands that the lack of delivery of individual bank guarantees cant limit the purchasers unwaivable rights established in the 57/68 Act. However, the sentence has dismissed the claim in behalf of some buyers who arranged the cancellation after the meeting of creditors or voted in favor of the creditors agreement, because the criteria of this specific court is that just purchasers who arranged the cancellation before or during the Bankruptcy proceeding, and didnt accept the release and payment schedule proposal, are entitled to enforce the generic bank guarantees. We hope the Appeal Court amends this part of the judgement, sentencing Banks to refund deposits to everyone. gmlegalexperts.blogspot.es/2014/05/gm-legal-experts-won-case-caso-ganado_27.html
Posted on: Tue, 27 May 2014 12:58:07 +0000
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