{"id":469,"date":"2011-07-19T08:11:07","date_gmt":"2011-07-19T07:11:07","guid":{"rendered":"https:\/\/www.lawbird.com\/wordpress\/?p=469"},"modified":"2014-05-05T19:06:14","modified_gmt":"2014-05-05T18:06:14","slug":"aifos-bosses-in-trouble-again","status":"publish","type":"post","link":"https:\/\/www.lawbird.com\/wordpress\/aifos-bosses-in-trouble-again\/","title":{"rendered":"Aifos bosses in trouble again"},"content":{"rendered":"<p>Sur newspaper publishes today that Aifos\u00b4 CEO, alongside his wife, <strong>are being accused of missapropriation<\/strong> of approximately \u20ac72,571 of a client of theirs that paid a deposit on account of a property that was never built. The indictement and further accusation is the result of two premises:<\/p>\n<ol>\n<li>Having taken a deposit\u00a0upfront <strong>without providing a bank guarantee <\/strong>to ensure repayment and<\/li>\n<li>Not using the deposit\u00a0towards <strong>expenses arising directly <\/strong>from the proposed construction.<\/li>\n<\/ol>\n<p>Many developers these are still believing that\u00a0taking hundreds of thousands of deposits from punters,\u00a0not guaranteeing them\u00a0and using them to pay salaries, marketing, dividends (yes, even if no property has been delivered!) is something that, quite\u00a0simply, is acceptable from a legal point of view.<\/p>\n<p>Contrary to other businesses, property developers\u00a0cannot incorporate\u00a0downpayments\u00a0received\u00a0into their company normal business account and use for purposes different from the construction of the property, as such purpose would be deemed as unathorised, unless a bank guarantee is provided.<\/p>\n<p>And as such, property buyers on off-plan property\u00a0may not be deemed as\u00a0regular creditors,\u00a0but\u00a0protected parties\u00a0that pay deposits\u00a0to a\u00a0<strong>professional developer who assumes a\u00a0fiduciary duty<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sur newspaper publishes today that Aifos\u00b4 CEO, alongside his wife, are being accused of missapropriation of approximately \u20ac72,571 of a client of theirs that paid a deposit on account of a property that was never built. The indictement and further accusation is the result of two premises: Having taken a deposit\u00a0upfront without providing a bank [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[8,72,71,70,67],"class_list":["post-469","post","type-post","status-publish","format-standard","hentry","category-litigation","tag-aifos","tag-benalmadena","tag-missapropriation","tag-property","tag-spain"],"_links":{"self":[{"href":"https:\/\/www.lawbird.com\/wordpress\/wp-json\/wp\/v2\/posts\/469","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lawbird.com\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lawbird.com\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lawbird.com\/wordpress\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lawbird.com\/wordpress\/wp-json\/wp\/v2\/comments?post=469"}],"version-history":[{"count":4,"href":"https:\/\/www.lawbird.com\/wordpress\/wp-json\/wp\/v2\/posts\/469\/revisions"}],"predecessor-version":[{"id":1331,"href":"https:\/\/www.lawbird.com\/wordpress\/wp-json\/wp\/v2\/posts\/469\/revisions\/1331"}],"wp:attachment":[{"href":"https:\/\/www.lawbird.com\/wordpress\/wp-json\/wp\/v2\/media?parent=469"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lawbird.com\/wordpress\/wp-json\/wp\/v2\/categories?post=469"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lawbird.com\/wordpress\/wp-json\/wp\/v2\/tags?post=469"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}