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José M.
José M., Attorney
Category: Spain Law
Satisfied Customers: 6146
Experience:  Spanish Attorney
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Exactly 10 years ago today my UK company (no longer trading

Resolved Question:

Exactly 10 years ago today my UK company (no longer trading but still extant) made a loan agreement with a Spanish company. We provided funds of €100,000 to finance the purchase of land on which to build a block of flats in Tenerife.
There were clear conditions agreed as to repayment objectives/timescale etc.
Without reference to us the then "director" of the receiving company with whom we signed the agreement sold his interest to third parties who have completed the project but who have repeatedly over the years refused to return the funds invested.
They chose to ignore my loan agreement and have repeatedly referred to the investment as "aportacion" rather than "prestamo".
Is this significant?
Submitted: 2 years ago.
Category: Spain Law
Expert:  José M. replied 2 years ago.
Hi there, its very significan change between aportación, that means that you have a part on the business, it does mean that you share part of business, than prestamo, where you borrow some money for interest.
The real thing is you got a warranty on your investment, I mean, If you let to put on their name on the propiety register with a warranty or without it. If you do not have it, the chance yo lose all is very hight
Check if you have it and the chance to get it right now.
Thank you
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