The developer refuses to pay the money back after delivery delay due to force majeure

Hello,

Thank you for your question!

Generally, in order to assess whether or not you will be able to obtain a refund for your investment, we will need to review your sale and purchase agreement, as that is what it ultimately depends on.

It seems like they are delaying the handover of your property, which, based on the contract, they may not have the right to do.

Another factor to take into consideration is the reasoning of the developer, for example, the fact that their argument was force majeure. Also, was their notice in line with the contract?

We have had several cases where properties have been delayed and the purchasers were able to get all their money back.

Similarly, there have been cases where the purchasers found out they were also entitled to interest for the delayed time. However, this was identified through a thorough review of the specific terms of their contracts.

Whether or not the courts will terminate the SPA is at their discretion. Based on court precedent, there have been cases where purchasers were able to terminate the contract and obtain their money.

However, this ultimately depended on the specifics of their matter.

Moving forward, should you require further tailored substantive legal advice or assistance with your matter, kindly contact my firm via phone or email.

Kind Regards,

Ludmila