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Spanish Development Bankrupt: Can I Reclaim?
Many investors who paid a deposit on Spanish Off Plan property and never saw completion are under the illusion that they cannot recover their money. One reason we hear is that the developer is Bankrupt and no longer in existence. This is incorrect and you could be able to recover your Spanish property deposit.
Following the recent Spanish Legal ruling the deposit refund claim process is in place due to Bank’s not separately holding deposits paid in separate accounts until the property was completed. It is not to do with the developer itself if the Spanish development went bust.
The Spanish legal system is now in place for investors who have been wronged by both Banks and Spanish Developments. EU Property Solutions along with our expert legal team in Spain are now in the throes of recovering millions of pounds in lost deposits.
The reclaim process is relatively simple:
- Use our calculator to see how much you could be due in repayment.
- Call EU Property Solutions business relationship team. They will advise on the documentation requirements to move the process forward.
- Our Expert legal team in Spain review your case to see if you can put in a Spanish Deposit Refund Claim.
- Our business relationship team contact you again and finalise fee agreements and power of attorney forms to commence your case.
If you feel that you have a case and would like advice on moving forward, please call EU Property Solutions today on 0330 1241230. We look forward to claiming your deposit back.