Will the bank ever pay my exersised bank guarantee?

[Lawbird Lawyer]

Dear Anna,

You're welcome.

I'm afraid not, it's black or white. Or you follow a Summary Excecution Procedure (3-7 months) or else the Standard Procedure (2-3 years).

Please read our article on Spanish Bank Guarantees.

[Unregistered]

Thanks again for your reply. I cannot actually find what a summary execution procedure is and where I would serve it. my lawyer tells me that the mercantile court wont accept it and the civil court says the mercantile court must decide not them.

I have already been waiting eleven months for my money. Are you saying my lawyer is incorrect and I should get different advice?

If the courts wont hear my case then what can I do other than wait?

[Unregistered]

Hi.
We had a bank guarantee and we won a High Court ruling in Madrid against the Bank to return our deposit plus legals and interest in early June.
We still haven't received our money or heard anything and I realise all the courts and offices are closed in August but how long does it normally take for them to refund the money.
Our lawyer says it can take time and is chasing it up.
We have also been told that the bank cannot appeal against this ruling and I am sure if they could we would have heard about it by now.

What are your thought on this?

[Lawbird Lawyer]

Dear Sir/Madam,

That in a couple of months you should have it. Normally once there's a Final ruling it doesn't take that long.

In any case, we are speaking of a bank, so they will pay you.

Yours faithfully,

[Unregistered]

Hello again

Further to my question on 09/04/2009 and your reply.

As yet I still haven't had my deposit returned by the bank.

My lawyer says he is chasing it up regularly via the court procurator and not to worry but I will get it back eventually.

It is now 6 months since the High Court ruling !!!

Is this normal ?

[Unregistered]

Can you please respond to my previous message regarding the waiting time for the bank to return our deposit.
Thank you

[Lawbird Lawyer]

Apologies for the belated reply.

As per my prior treply it normally doesn´t take that long after a High Court ruling.

6 months does seem excessive, yes.

Yours faithfully,

[Paulbella]

Re Bank guarantee;


Dear sir madam
My frustration is beyond belief, My Situation seems far worse with respect to anybody else that I have read; With a brief of insight as I can is as follows;
1. Purchased of plan with BG 2006 With two stage payments of approximately £43,000
2. Exercised B G in 2009 After a lengthy wait and much frustration won appeals in court of Madrid for stage payments interest and out of course expenses in 2011, When my solicitor said they had 18 days to Appeal ( For which they did not)
3. After a few emails to the bank in question there has been no reply:
4. My solicitor has now informed me that they are going to go back to the courts of Madrid to put a freeze on their cash within the bank for my initial outlay and then pursue the interest and fees afterwards;
I feel I am no more forward in this situation then I was in 2009 I now have to wait again for the courts of Madrid to put a freeze on their cash assets does this sound all correct to you please please help me

Yours faithfully

Paul stevens