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The ground court courts receive almost 2000 lawsuits in one week through Lexnet, we read on June 13 at ConfiLegal. But what exactly is Lexnet and what is it used for? Lexnet is a secure information exchange platform between the judicial bodies and the legal operators that was created to streamline and optimize the management of notifications, writings or demands of the Spanish legal profession.
Now, time is essential for a successful reclaim of your off-plan property deposit. One of every five houses bought by foreigners in Spain, belongs to British Buyers; however, some of these buyers saw truncated their dreams, as they put their life savings into Off-Plan deposits for properties that were never built or that were never begun to be built. Since the Spanish real estate
The floor clauses extrajudicial procedure, wastepaper for Spanish banks The floor clauses affectees are claiming Spanish banking’s non-compliance of the extrajudicial procedure approved by the government two months ago. The Royal-Decree 1/2017 of 20th January approved by the government establishes an extrajudicial procedure to claim for floor clauses. It is in force for two months and different bank entities are starting to answer the various
The black spots of the floor clauses’ extrajudicial procedure The extrajudicial process for the refund of the floor clauses leaves the consumers defenceless by making stealthy changes to their procedural rights. When the Court of Justice of the European Union ruled in favor of the total retroactivity of the floor clauses, consumers saw their rights recognized and the opportunity to get back the money they
British owners in Spain can reclaim their lost money on off plan properties After recent legal changes in Spain, buyers have the right to get back their property’s deposits on certain circumstances. The Spanish housing bubble was one of the most important 2008’s international crisis in this country. Thousands of citizens lost their properties or saw their prices crashing which has affected thousands of British
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 to resolve disputes in which
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 up with an answer (…)
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 Del Canto, a barrister qualified
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 the highest court, the CJEU,
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 it was stipulated in a
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 its clients the overpaid amounts
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 factors have been added: the
Football Leaks: The tax evasión league A European consortium of investigative journalists uncover footballers and celebrities’ massive tax fraud, with an emphasis on Cristiano Ronaldo and José Mourinho. The German newspaper “Der Spiegel” known as Football Leaks, has revealed that several European clubs and soccer players have committed a crime of tax evasion. This newspaper belongs to an international consortium of journalists (European Investigative Collaborations
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 to a Basque couple from
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 90 countries in three different
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 and the EU’s institutions in
Our Managing Partner, León Fernando del Canto, has published a statement in the magazine Bloomberg BNA where he comments on the last measures that HMRC has implemented to fight against VAT fraud. The article, written by the journalist Ben Stupples, is titled “UK proposes new penalties for VAT fraud” and it gives details on the different proposed measures by the HMRC. The British authorities are
29-09-2016 | GLOBAL ASSETS MAGAZINE Our Managing Partner, León Fernando del Canto, has published an article entitled, “The right to privacy vs parliamentary immunity or money powers against rule of law“, in the Global Assets Magazine on a recent Bahamian High Court’s sentence on right to privacy.
Our visit to London; the principle of universal jurisdiction in New York; the Apple Inc. case; and the revenue-raising antics by means of corporate tax employed by the Spanish government have kept us busy this week at Del Canto Chambers At Del Canto Chambers, as we approach the end of the summer and brush away any feelings of nostalgia, we have been analysing the application
Universal Jurisdiction and its new application frames have been discussed at the United Nations at a conference sponsored by Fundación Internacional Baltasar Garzón The UN headquarters in New York hosted a conference on universal jurisdiction, which was focused on the role of the universal jurisdiction principle in the fight against impunity for crimes against humanity. This event, entitled “Universal Jurisdiction: from Nuremberg to the present
The application of the principle of universal jurisdiction for debate this week at the UN in New York. The principle of Universal Jurisdiction refers to the extension of national jurisdiction of any territory over certain crimes considered crimes against humanity, regardless of where they were committed or the nationality of the perpetrator. The formulation of this principle in a country’s Procedural Law empowers courts of
A new wave of massive trials against Spanish banks is coming because of the investors’ lost money by property developers during the Spanish housing bubble. Spanish banks are facing a new case of multiple trials because of the lost money that investors paid to the bankrupted housing developers in the bubble’s years of 2004-2006. Developers bankruptcy and a number of unfinished housing projects during the
Our Managing Partner, León Fernando del Canto, has published a new article at New Law Journal titled ‘Holiday hell’. This article analyses how the later CJEU’s Advocate General’s opinion on floor clauses’ retroactivity has affected not only Spanish citizens owning overpaid mortgages but UK citizens in Spain having holiday homes. To all of this is added the facts that Brexit have caused uncertainty in European
The Spanish Real Decreto-Ley (Royal Decree-Law) 5/2012, of 5th March, on Civil and Commercial Mediation is already in force. This provision incorporates into Spanish law the Directive 2008/52/EC of the European Parliament and the Council of 21 May 2008 on certain aspects of mediation in civil and commercial matters (just for the record, deadline for transposition expired on 5/20/2011). Following aspects are of interest for
