Members of the ERVA are to file a group action against Rothschild for misleading publicity, in respect of the Equity Release, at the provincial Mercantile Courts of location of the property affected.

Legal grounds for bringing such an action are 2, mainly:

  • Deceiptful message¬†in respect to the promised benefits of “creating a debt” on a property with the purpose of minimizing or eliminating Spanish Inheritance Tax.
  • Deceiptful message¬†in respect to the promised guarantee that the investment, which is said to be held outside of Spain (obviously to cheat the tax authorities) is guaranteed 100%.

The claim, which is to follow the same format as the Nordea Claim, is to be filed on the 20th of December 2012.

Other than that, we would not wish to miss this opportunity to briefly comment on the attached information, one of many examples of abundant tax-evading publicity that Rothschild produced.

A calm and unflustered Steve Dewsnip, a prominent Rothschild figure when the scheme was going strong on the Coasts who is currently doing other things, spoke and wrote like a Spanish Inheritance Tax expert. Far from it, the man was just clueless.

But the worse we think was the use of an unsettling word, “bespoke”, to ill-define the nature of this absolutely commoditized deceiptfully predatory product sold to pensioners, without distinction and without, of course, any semblance to the meaning of it.