Six Erva.es associates have just launched a claim against Nordea Bank Luxembourg for misleading advertising, pursuant to the 2009 Unfair Competition and Publicity Act.
Anyone interested what the Act says can access a¬†summary¬†of it offered¬†by a top UK law firm, or the¬†contents of it, as published by the number 1 law firm in Spain (and who incidentally happens to represent one of the Equity Release banks, one which is willing to negotiate though).
And anyone curious to know which advertising is considered misleading can go to the Exhibits section of the writ, where a coloured full-copy of the law-infringing brochures are displayed.
The message Nordea put out to people was clear: if you have property in Spain and don’t have a mortgage registered against it, you are endangering the future of the generations to come. On the contrary, if you take out a mortgage loan and invest it with Nordea Luxembourg, you will enjoy the life of Riley, just as the Nordea satisfied family placidly enjoying a catch up and a picnic day out.