It has been a while since our last post, but things have been fairly quiet in the litigation front, save for Landsbanki’s cases.
Undeterred by recent rotund judicial response against Equity Release contracts, liquidators for the Icelandic defunct financial predator remain undeterred and a still trying to collect their investments or, if needed, steal pensioners’ properties from under their feet.
For Landsbanki, cunning has become a second nature and consequently, their very latest devious strategy is to contest the jurisdiction of Spanish Courts in favour of the bank-friendly tribunals of Luxembourg, invoking EU-bankruptcy laws.
So far though, ERVA lawyers have managed to throw out no less than 8 motions filed by Landsbanki to have the cases relocated to Luxembourg Courts. The Courts involved are in the Malaga, Almeria and Alicante provinces.
2 further motions were accepted by the Courts but are likely to be reversed on appeal.
On finding in favour of the victims of the equity release fraud, the Courts upheld existing case law on the matter (two rulings of the Court of Appeal of Malaga of 2013 and 2015) as well as legal precepts invoked by the counsel of the victims.
Specifically, the Courts have convened that:
- EU-bankruptcy laws do not apply to contracts signed by consumers, who still have the right to choose to litigate where they live.
- EU-bankruptcy laws do not apply to legal agreements or contracts that were entered with the company prior to it becoming insolvent.
- Spanish laws grant exclusive jurisdiction to national Courts where dispute over property registered rights is concerned.
And so it goes on. Landsbanki will try everything in the book to deny the rights of Spanish residents. Perhaps is is their last throw of the dice, but I would not bet on it. Of course they would like to have these cases transferred to Luxembourg, where financially they would be difficult to bring to the courts. Of course The Luxembourg courts would look favourably on Landsbanki.
I take my hat of to Lawbird who are fighting for the rights of their clients who ar Spanish residents. What they don’t seem to realise is that Lawbird will never give up this fight. As Sir Winston Churchill said “WE WILL NEVER SURRENDER”
I am dumbfounded that Landsbanki have wanted so much money in defending numerous cases both in Spain and France. Perhaps it would have been cheaper just to settle these cases which were sold to pensioners by illegal advertising. Many pensioners are deeply worried what is going to happen to their lives, although courts have ringed fenced their properties until such time as they are heard in the courts. Many are in trouble financially and others have died in the ten years they have been trying to get some justice in the courts. It is a disgrace that Landsbanki have tried every trick in the book to recognise their rights.
Well done to Lawbird for their continued fight against the banks.
LANDSBANKI ‘SCAM VICTIMS MAKE PROGRESS IN THE COURTS.
A Marbella Court has declared the loan pf one couple void because of unfair terms and lack of proof that the money that the money was ever received. Full details can be found in February 1st to 7th 2019 issue of SUR IN ENGLISH.
YET ANOTHER SET BACK FOR LANDBANKI