Spanish Law, Finance Regulators and hedge funds business examined by European Commission

What is the EU deciding with regards to assignment of mortgage debts to hedge/vulture funds? On 20 April 2018, the European Commission announced the admission for processing of the complaint filed by a Law Firm in Spain on behalf of 12 holders of Spanish mortgages for non-application of European … [Read more...]

Banco Santander sentenced to return more than 300,000 euros for Aifos development Cala del Sol in San Fernando

A law from 1968 and the interpretation of that law by Spanish judges and courts in favor of off-plan buyers of first or second homes in Spain results in the return to six claimants the savings they lost during the real estate crisis in Cala del Sol, San Fernando. At the completion date as stated … [Read more...]

The Supreme Court in Spain changes its criteria in relation to consumer agreements

The Supreme Court in Spain has changed its criteria in relation to consumer agreements, provided that it is proven by the Bank that the client was able to know the economic and legal consequences of its acceptance. In a ground clause case in which bank and client reached an agreement in order to … [Read more...]

15 New Cases Won against Banks in 2018

ORIHUELA P1 BANCO SABADELL MONSERRATE CAMARA ALBEROLA & SKY HOUSES LA CAMPANETA MURCIA P1 BANCO POPULAR HUMA MEDITERRANEO ALMANZORA COUNTRY CLUB MURCIA P1 BANKINTER CORVERA CORVERA GOLF & COUNTRY … [Read more...]

Off-plan property case won by CostaLuz Lawyers-DeCastro for a property in ‘Calas del Pinar’ from the developer Peinsa 97 SL

Case won by Costaluz Lawyers-DeCastro in Peinsa 97, SL development “Complejo residential Calas del Pinar”, Pulpí, Almeria. Banco Santander S.A, has been condemned to return to the claimant € 103,493.54 plus the legal interest ( 4%-5% annual) from the dates payments were made to Peinsa. The Bank … [Read more...]

Spain’s Supreme Court hesitation before Banks

The Supreme Court has ruled that client should face the Stamp Duty Tax (AJD) related to the mortgage. In the informative notification issued in advance of the Sentence, the Supreme Court establishes that several situations must be distinguished on this tax: a) Tax related to constitution of … [Read more...]

Spain’s Supreme Court bringing questions before Europe on IRPH index

Last December 2017, the Supreme Court in Spain declared that material transparency control of the IRPH clause was not due as this was a legal index. The sentence, naturally, received harsh criticism and raised doubts about its compliance to the doctrine of the European Union regarding the control … [Read more...]

Brexit and Settled Status in Spain

Is there anything clear on status of expats after Brexit? The negotiators of the European Union and the UK government set out a jointly report that will be part of the Withdrawal Agreement in full detail. This was published on the TF50 website on the 8th of December 2017. Access to the document … [Read more...]

Does the Uber ruling affect online platforms for the sale and/or rental of real estate in Spain?

The recent Preliminary Ruling of 20th December 2017 from the EUCJ (European Union Court of Justice) raises the question of whether the solution of the European court can be applied to other online platforms that intervene in different markets, specifically in the real estate market for the sale and … [Read more...]

Spain’s IRPH Mortgages to be revised by Europe?

Clients with mortgages linked to the IRPH index in Spain aim to refer their case to the European courts. They have been encouraged by the vote of two Supreme Court Magistrates who believe that the clause does not meet the required transparency control. On November 22, Spain’s Supreme Court ruled … [Read more...]

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