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ناظورسيتي
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Morocco Property Ruling
The Madrid Provincial Court of Appeal, in a ruling issued on October 1, upheld the refusal to hold Cajamar Bank liable for refunding payments made by a Spanish couple toward the purchase of a home in a resort development in Saïdia whose construction had stalled. The court held that the dispute was governed by Moroccan law and that the couple had not shown that the bank had guaranteed the transaction or that they had a direct right to seek repayment from it. It also noted that any challenge to the validity of the sale contract should be brought against the parties who signed it. The couple were ordered to pay the costs of the appeal and forfeit their court deposit.
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