property investor has successfully had his deposit returned after a business opportunity in Spain went awry, thanks to international law firm Judicare.Investor Dave Connelly bought into a new Spanish development in 2008 with his then business partner, whose name was the sole one on the bank deposit guarantee. After the project stalled and his relationship with his partner dissolved, Connelly felt helpless to regain his funds, and sought advice from Judicare.
"The team at Judicare fought tirelessly on my behalf and even managed to petition the bank to alter the guarantee so it was fairly divided between my previous partner and I", says Connelly. "I'm now in possession of the cheque for my portion of the deposit."
Judicare Chairman Jose Dorta said his team had to endure some skilful negotiating to alter the conditions of the surety. "It was quite a challenge to convince the lending bank that the interests of our client would only be served in this action if they recognised his contribution to the original deposit", he said. "Through negotiating with the bank, this compromise was reached and we have managed to extract our client from the process with his original funds."
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