War between banks and consumers for the return of the floor clauses Banking and government delay compliance with ECJ ruling. The Minister of Justice, Rafael Catalá, recently announced that specialized courts in floor clauses may be designated with the aim of not collapsing the judicial system in the face of an avalanche of consumer complaints. These courts would have jurisdiction
Del Canto Chambers is confident on the floor clauses’ claims refund Our Managing Partner, León Fernando del Canto, has been quoted in an article, published by The Times, on the new floor clauses claiming procedure established in Spain: “The question on every borrower’s lips will be “How do I get my money?” — and, this month, the Spanish government came
Del Canto Chambers thought as the well-placed firm to claim back for floor-clauses mortgages The specialised website Spanish Property Insight has published an article, by market analyst and consultant Mark Stücklin, in which it has been quoted our Managing Partner, León Fernando del Canto, with regard to the recently approved Decree on floor clauses extrajudicial procedure’: “This is what Fernando
Side B of the #floorclauses extrajudicial procedure The #floorclauses extrajudicial procedure favours the banks instead of consumers As anticipated in our article “Floor clauses and smoke curtains”, the #floorclauses extrajudicial procedure regulated by the Royal Decree 1/2017 of 20 January has come to establish that banks continue winning this battle. This is not just a headline. Against a decision of
How to claim for floor clauses mortgage loans’ expenses and other void credits Floor clauses’ sentence triggered legal claims to recover mortgage’s arrangement fees and costs of mortgages loans affected both by said clauses and other void ones. In Spain, when signing a mortgage with a bank, the client is usually paying in full all arrangement fees and expenses because
Del Canto Chambers considers like a “smokescreen” the floor clauses’ extrajudicial process Our Managing Partner, León Fernando del Canto, has published an opinion article in the journal Huffington Post in which he considers the new extrajudicial process that the Spanish government is trying to pass as a smokescreen to not to comply the CJEU’s sentence obliging banks to give back
The banking sector strikes back: mortgage loans increase after the ruling of the CJEU Spanish banks will increase credit to cope with a Euribor still at record lows and the CJEU ruling on floor clauses. Spanish banking has been in crisis for a number of years in the context of a low-margin and narrow-margin banking environment, to which two new
A court recognizes the floor clauses’ total retroactivity A Basque court recognizes the floor clauses’ total retroactivity a few days before the CJEU’s final sentence. The costs for the banks could be up to E5.2bn. The Barakaldo’s First Instance Court (Basque Country, Spain) has admitted the floor clauses’ total retroactivity and it obliges a bank to give 14.250 euros back
Spain’s global presence both in the EU and worldwide remain steady, despite the crisis, according to the “Real Instituto Elcano’s” report “Elcano’s Report on Global presence 2016”. Spain keeps its political and economic presence in the international arena through the Elcano’s Global Presence Index (IEPG, in Spanish), Which is the result of an annual projection of international weight of around
Del Canto Chambers, firme defensor del eje hispano-británico Our Managing Partner, León Fernando del Canto, has published an article in “El País“, in which he bets again for maintaining the Spanish and British’s economic bonds against the Brexit’s generated uncertainty. With this article, written within the frame of the #embracespain campaign, Del Canto defends a constructive dialogue, both from Madrid
