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Has Your Spanish Property Developer Got Financial Problems?


Commenting on recently reported problems in the Spanish property market, specialist Spanish property solicitor Susana Lajusticia of Manchester law firm Pannone LLP, said that whilst there are still many opportunities to be had in the Spanish property market, there have unfortunately been a number of property developers who have recently gone into voluntary liquidation, such as San Jose Inversiones y Proyectos Urbanisticos SA and Herrada del Tollo SL. Both these developers and others are now inviting buyers to register as creditors at local courts.

Susana Lajusticia, who is also dually qualified as a Spanish abogado (lawyer), commented that this action is taken to both ensure the ongoing survival of companies like San Jose and Herrada de Tollo and the completion of building works. This is another example of the effects of the so called “credit crunch” on the construction industry.

Help at hand
Susana added, “We specialise in providing legal advice on property in Spain and can assist with the process of registration as a creditor. If the buyer has a bank guarantee or insurance policy, it may be possible to exercise this to help recover the funds that have been invested and were guaranteed, without the need for litigation.”

Time limits do apply, however, so it is essential not to delay in taking the necessary advice and steps. If you are concerned about your Spanish property purchase, Pannone may be able to help.

If litigation should prove to be necessary Pannone has associate law firms in Spain that can offer advice and assistance.

For more information please call Pannone LLP on 0161 909 3000 and ask for the International Property Department, or visit


 Spanish Property
 Spanish Lawyers in the UK
 Property Developers
 Susana Lajusticia
 Pannone LLP

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