The European Court of Justice ruling on IRPH Spanish mortgage loan clauses
The European Court of Justice ruling on IRPH Spanish mortgage loan clauses. The court handed down judgment on 3 March 2020, granting consumers affected by the index reference for mortgage loans (IRPH) a new chance to claim against Spanish banks. An alternative to Euribor, the IRPH is a mortgage indicator for interest rates applied in […]
The new strategy of banks: request the testimony of the borrowers
The new strategy of banks: request the testimony of the borrowers. Banks are up against the wall. Especially with regard to floor clause claims. The Bank’s chances for obtaining a ruling in favour of their interests are very unlikely. Especially, after the ruling of the Court of Justice of the European Union 21/12/2016. Although the […]
The OCU appeals the decision of the CGPJ to create specialized courts for floor clause claims
The OCU appeals the decision of the CGPJ to create specialized courts for floor clause claims. This isn’t the first time that from Del Canto Chambers, we inform on the disadvantages of the creation of Ad Hoc Courts for floor clauses. In our article published last month #MortgagedJustice. The bank claims: a hard journey. We […]
When will mankind be convinced and agree to settle their difficulties by arbitration?
When will mankind be convinced and agree to settle their difficulties by arbitration?. We would do better if we would have paid more attention to Benjamin Franklin…. Dispute resolution ADR Alternative dispute resolution ADR is mechanisms for the parties in conflict to resolve their differences and avoid going to court. Its effective, efficient, and quick […]
If you violate her, you violate me!
If you violate her, you violate me! Spaniards have taken to the streets to protest the verdict of five men accused of raping an 18-year-old woman at the ‘Running of the Bulls’ in Pamplona. According to Spanish Barrister and feminist, Leon Fernando Del Canto, sexual aggression or ‘rape’ is defined by Article 178 of the […]
Spanish floor clause and mortgage expense complaints registered with Banking supervisor soar 178% in 2017
The claims service of the Bank of Spain has been overwhelmed by consumers making complaints against lenders for abusive mortgage interest floor clauses, and set-up costs. The Claims Service of the Bank of Spain is a body that evaluates consumer complaints against financial service companies. The Bank of Spain has revealed that there were 40,173 […]
The Supreme Court rules in favour of the banks for mortgage expenses
The Decision has already aroused the first controversies in the Spanish legal scene and in the Consumers Associations that will undoubtedly raise this case to the European Court of Justice which will have the last word to say. It is not the first time that the CJEU corrects and amends the decision of the Spanish […]
98% of mortgage floor clause claims completed in 2017 were successful
As was expected after EU Court of Justice ruling in December of 2016, Spanish banks have little hope of defending themselves against legal claims brought by clients with abusive clauses in their mortgages. The effectiveness of the extrajudicial methods for avoiding going to court is limited.Trying to settle out of court is not as effective […]
Floor Clause Claims Time to be patient – Spanish Courts collapsed”
In the old days – when it comes to floor clauses when I say “in the old days” I mean 2013-, floor clause matters were settled in Commercial Courts; one per province, except in large cities such as Madrid, Barcelona, Valencia and Malaga. These courts were created to take charge of bankruptcy proceedings and industrial […]
The Spanish courts are collapsing with the demands of floor clauses
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 […]
