War between banks and consumers for the return of the floor clauses
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. […]
Del Canto Chambers is confident on the floor clauses' claims refund
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 […]
Del Canto Chambers thought as the well-placed firm to claim back for floor-clauses mortgages
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 […]
Side B of the #floorclauses extrajudicial procedure
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 […]
How to claim for floor clauses mortgage loans’ expenses and other void credits
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 […]
The banking sector strikes back: mortgage loans increase after the ruling of the CJEU
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 […]
A court recognizes the floor clauses' total retroactivity
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 […]
Spanish banks are facing massive trials for fraud during the housing bubble
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 […]
Holiday hell
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 […]
