3 Reasons to lose one demand Swap

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Although the balance of claims for swaps or swaps is favorable to customers, there are some reasons that may hinder our demand estimation.

We review these items, on the case of the Judgment of the Provincial Court of Lion 27 May 2014.

A company called "Industrial Commercial Flexsan" signs Clip Bankinter in 2005, Clip in the other 2006 Clip and a third in 2008. In view of the losses caused by these products, demand to the bank, requesting nullification. He claims that the products were offered by the bank, as insurance, which had a ratio of confianza, The profile was "No financial expert" and that received virtually no information any. Company had to ask four loans to pay settlements and cancel Clips.

The first clip is canceled in the 2008. On 2011 cancel the other two remaining clips. By signing the loan to cancel these contracts, signed a document which the company gave up "a claim Bankinter for this item", and any judicial or extrajudicial claim, present the forthcoming, whatever their nature or competent jurisdiction.

The Court of First Instance rejected the claim and the company uses to the Provincial Court.

The Provincial Court, in its judgment, first reviews the legislation and the requirements for such contracts and appreciates that are given in the "error conditions invalidating the contract itself". However, dismisses the appeal been canceled clips, and having renounced the actions. This is a confirmation of the collecting section contracts voidable 1311 Civil Code. The renunciation of action in this case is expressed, clear and convincing, So even if the existence of errors shown invalidating, can not be upheld.

  • Si hay several contracts for the financial exchange swaps chained, will be very difficult finding the error. Courts generally admit once, but the more.
  • The product cancellation may hamper claim successful. Especially if the bank makes you sign a waiver of legal action.
  • When you have a complex product that has harmed you, and the bank offers a solution, before signing any document you are recommended to consult a specialist lawyer because it accepts the "solution" it bank, you can close the door to a legal claim.

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