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LEY 57/68

The Shocking Truth

The Banks &
Savings Banks


Bank Guarantees
in Spain


LEY 57/68
English & Spanish


Explanation of
LEY 57/68


Current Number of Group Members:  64
Current Number of Plots:  74
Deposits Paid:  2,083,231 €

Email:  fpag@btinternet.com

Our Situation
The developer Cleyton GES SL and the projects funding bank who accepted our Off-Plan deposit
payments, Caja de Ahorros del Mediterráneo,
failed to issue our group members with the
legally required Bank Guarantees

Los Hechos
La promotora Cleyton GES SL y el banco que financiaba el proyecto y que aceptó nustras cantidades a cuenta, Caja de Ahorros del Mediterráneo, incumoplieron sus obligaciones en cuanto a la emisión y entrega de avales bancarios de acuerdo con lo establecido por ley

Our Mission
To recover our Off-Plan Deposits paid in good faith to Cleyton GES SL & Caja de Ahorros del Mediterráneo (CAM Bank), which according to Spanish Law, in particular,
LEY 57/68 Article 1.2, "
must be deposited in a Special Account, with separation from any other funds belonging to the promoter, which may only contain funds deposited for the construction of dwellings.  For the opening of these accounts or deposits the Banking institution or Savings bank (in this case CAM Bank), under its responsibility, will demand the bank guarantee to which the previous condition (Article 1.1) refers

Nuestra Misión
Recuperar las cantidades entregadas a cuenta a Cleyton Ges SL y Caja de Ahorros del Mediterráneo, que de acuerdo con lo establecido en Derecho español, y en particular, en la Ley 57/68, artículo 1.2, "las que habran de depositarse en cuenta especial, con separacion de cualquier otra clase de fondos pertenecientes al promotor y de las que unicamente podra disponer para las atenciones derivadas de la construccion de las viviendas. Para la apertura de estas cuentas o depositos la Entidad bancaria o Caja de Ahorros, bajo su responsabilidad, exigira la garantia a que se refiere la condicion anterior (Articulo 1.1)

STOP PRESS - VICTORY FOR THE FINCA PARCS ACTION GROUP
IN THE FIRST INSTANCE COURT IN HELLIN

CLICK HERE TO DOWNLOAD A COPY OF THE FULL SENTENCE

CLICK HERE TO DOWNLOAD THE SUMMARY OF THE SENTENCE

MEDIA COVERAGE -
FINCA PARCS ACTION GROUP receive coverage in the media via Spanish/English newspapers, internet news portals and forums.
Click here for links to the press coverage

LATEST NEWS - For Latest News regarding FINCA PARCS ACTION GROUP please click here


The logo's below were taken from the Finca Parcs Official Brochure & from the
Finca Parcs Easyjet Magazine Advert

 The text below is from the 'About our Partners' page on Cleyton GES SL Las Higuericas,
Finca Parcs Website:
"Cam Bank are one of largest high street banks in Spain. Not only will they provide bank guarantees throughout your purchase, they also invite our purchasers to apply for mortgages of up to 80% of their property. Cam Bank have English speaking employees throughout their branches ensuring any assistance you require shall be easily given"

The text below is from a Cleyton GES SL letter dated - October 2005:


The clause below is taken from the Cleyton GES SL Finca Parcs,
Sales Agreements - Contrato de Compraventa

Bank of Spain Governor Miguel Ángel Fernández Ordóñez called
the behaviour of the CAM executives "scandalous" and said the
bank was "the worst of the worst" (Lo Peor de lo Peor) at a
press conference in September 2011


For more information on the FINCA PARCS ACTION GROUP please send us an email
with your name and plot number

Email: fpag@btinternet.com

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