A Marbella Court has ordered a stay of foreclosure proceedings following a ‘null and void’ petition submitted by lawyers acting for the defendant.
The application to the Court is based on fundamental breaches of civil procedure laws, namely failure to identify the correct sum that Landsbanki is demanding from the borrower.
Landsbanki has so far only foreclosed on company-owned property, that we are aware of.
Should the Court set aside the foreclosure procedure, Landsbanki would have to pursue the debt via a laborious ordinary case where parties get equal opportunities, as opposed to foreclosure proceedings.
Landsbanki has 5 days to challenge this decision.
Typical of Landsbanki. They simply cannot get it right. First they sell a fraudulent product, then compound this with the inefficiency of not knowing how much is owed. Desperation is the name of the game now for Landsbanki. Finally more and more cases are about to come before the courts and no doubt they are trying to rush foreclosures . I think they must know that the game is up.