Insurance company sentenced to return the contributions of a housing cooperative

by David Lorenzo on July 29, 2013

  • Sumo

The Supreme Court  in Spain sentenced an insurance company to return the contributions of a housing cooperative that will not be built

The Plenary session of the First Chamber of the Supreme Court resolved an appeal to the return to the Cooperative of amounts given for housing development.

The First Chamber of the Supreme Court, meeting in plenary, has estimated the appeal of a  cooperative group to retrieve their contributions in excess of 100,000 euros almost all, to a housing cooperative of the Community of Madrid (Valdebebas).

The Supreme Court has held that the surety insurance at the time agreed between the cooperative and the defendant insurance company protected the cooperative, because it is a compulsory insurance agree with the Law 57/1968 and Law Construction Planning de1999 .

Consequently, it has annulled the judgment of the Madrid District Court dismissing demand of cooperative and has condemned the insurance company to compensate them in the same amounts paid, with interest, by the inability to have them delivered the homes.

The decision, agreed unanimously, will be published once drafted  next September.

If you have any problem regarding Spanish Properties  David Lorenzo can help you, putting at your disposal all his experience and giving the best of himself.


David Lorenzo

David Lorenzo

Spanish Lawyer UK at Birchall Blackburn
HI, I am David Lorenzo Spanish Lawyer in UK at Birchall Blackburn Solicitors . But that’s just part of my job, the other, which also is my true passion is the Real Estate Market, I love to search for properties, compare prices and qualities and find some real bargains
David Lorenzo
David Lorenzo
David Lorenzo

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