Blog | May 13th

Bilbao Court Issues Broad Enforcement Proceedings Against Surrenda Link Mortgage Funding

Court of First Instance 11 in Bilbao has accepted a motion by claimants to enforce proceedings against SLM and ordered the following:

The freezing of assets owned by SLM to cover as much as 6,262,574 Euros, plus legal interest. The cancellation of mortgages registered in favour of SLM on the properties owed by the claimants, by ordering the Land Registries of Alora, Mijas, Javea, San Roque, Estepona, Coin, Velez-Malaga and Marbella to remove same. The annotation of the Court ruling in the indicated land registries.

This groundbreaking Equity Release ruling applies in full art. 1306 of the Civil Code (reserved for serious law breaches and violations of public order) and…

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