By Euro Weekly News Media • 12 June 2012 • 14:10
THE Supreme Court has ordered Ojen council to pay €360,000 compensation after halting a property development in September 2007.
Inmobiliaria Personal Promotora 1977 SL was bankrupted after the company failed to complete construction within the stipulated time limit.
It was unable to reimburse prospective purchasers affected when construction came to a standstill and four workers also had to be laid off.
The development, Los Llanos de Ojen, offered 121 properties at prices between €120,000 and €230,000 on land whose legality was questioned by the then mayor, Jose Antonio Gomez.
The properties were virtually finished and €10 million had been made available in loans.
The mayor’s decision to halt the development was directly responsible for the collapse of the company, said one of the partners, Alberto Panadero.
He was sued for failing to deliver their properties on time.
His assets were embargoed when the company failed to return money to purchasers, some of whom already paid up to €40,000 each.
The courts annulled the ban four months later, but “the damage to the clients was already done”, explained Panadero.
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