clips

Bankinter sanctioned by the CNMV 4.1 million

bankinter

 

The CNMV has sanctioned Bankinter for committing two offenses serious.

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Can I claim if I sold my "toxic assets"?

validation

 

 

 

 

 

 

 

 

 

 

 

Very often we raise the question of whether you can claim once the preferred shares were sold, the "Securities Santander", structured bonds, autocancelables and other products of the "bestiary" of bad banking practice.

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II Conference on Banking Products

jornadas sobre productos bancarios

 

 

 

Today I attend II Conference on Banking Products held at the headquarters of the Bar Association of Valencia.

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Swaps: Condemn the Bank of Santander

lawyer swaps

The Court of First Instance No. 2 Azpeitia has doomed to Santander Bank a return 85.760 euros paid by a Framework of Financial Operations, and to pay the costs, in sentence 26 June 2013. Continue reading

Judgment on swaps Provincial de Castellón

valencia lawyer swap swaps

Judgment on swaps Provincial de Castellón

 

 

In line with the entries you have made on swaps or swaps, commented on the decision of the Audiencia Provincial de Castellón of 9 May 2012.

In the first instance, it condemns Catalunya Banc S.À. to refund the amounts received increased interest in legal, declaring the nullity of the contract and for costs.

The bank, appealed to the Court, alleging improper distribution of the burden of proof as regards the lack of consent by mistake, the lack of competition of the requirements for that error is cause for revocation and the existence of specific legislation applicable to the contract, with specific causes of invalidity.

The Court in its judgment reaffirms the view that the burden of proof is on the bank (SAP Zaragoza 19-3-2012 “corresponds to the entity in question prove that provided the customer with the necessary information to enable it to provide full and informed consent about the product you would hire ").

Also indicates that the client you can not require proof of negative.

Moreover, the fact that the bank had created and marketed the product, also makes it appropriate you load your test in the process (SAP Salamanca 2-3-2012).

Hearing highlights the Product complexity, the lack of information about the product, contravention of Articles 60 and paragraph 2 Art. 74 of RD 217/2008, and appreciates the existence of essential error, enough to declare the nullity of the contract.

Opposite the bank claim ignorance about the evolution of interest rates, SAP cites Tenerife 31-1-2012 y SAP Burgos 18-11-2011 in stating that "the forecast was that with high probability and the Euribor types evolve on down " and adds that while "there is no guarantee for sure knowledge of this bank rate cut, it is also true that because of their position in the economic system, were having, at least, expected and therefore have informed the customer of the impact on the contract that was signed”.

Hearing citing SAP adds Oviedo 8-3-21012 “the fact that the contractor is a company with a significant volume of business does not bypass the product information ".

The Court dismissed the appeal of the bank, confirms the lower court ruling and ordered to pay the financial institution.

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