• N.M. Rothschild & Sons has taken the legal defense of the Equity Release (ER) cases in Spain as a matter of life or death.

    In a very generous interpretation of Spanish procedural laws that allow parties to […]

    • And so the charade goes on. Logically I cannot understand why Rothschild are taking such steps. Surely Rothschild marketing/sales and all there corresponding literature given out to their victims is clear as day. And it cannot be overturned by both past employees or current employees. First, for example the Hacienda (Spanish Tax Office) have deemed that the scheme is anything but IHT tax efficient. Other courts in similar cases against other banks have ruled the same, both on the matter of IHT and other reasons. This scheme is “WHAT IT IS” fraudulent to say the least.

    • And so the charade goes on. What Rothschild can gain from such tactics is hard to comprehend and makes little sense, except of course as anothe delaying tactic. The sales and marketing literature is clear and the benefits stated regarding IHT do not exist as the Tax Office has ruled and has other courts ruled in the past. No Rothschild employee or past employee can overturn this ruling or convince any judge to the contrary. The scheme IS WHAT IT IS” simply FRAUDULENT.

    • I seem to be having the same problem as pjames. Sometimes my post does’nt get accepted. In fact I recently posted a a comment, which for some reason never got posted, so I will try again.

      I agree with pjames with all he has posted. It may well be that any defence lawyer can argue the points mentioned in the ERVA post in relation to points 2 & 3. However it would be difficult to argue against the Tax office ruling that these schemes do not mitigate or reduce the IHT content, this is written in “stone”

      Other banks have also stated that their scheme also mitigates “Wealth Tax” again this is not the case as I am aware of a member of Erva was charged “Wealth Tax” and what’s more was fined for failing to declare this on the tax return. Is it not a similar matter to IHT?

    • This is the third time I have tried to post a comment, so it may well be that three similar comments may eventually be posted. I agree entirely with the comments made by pjames. It may well be that a defence lawyer can argue and put up “smoke screens” to argue points 2 & 3 in the Erva post. However it would be difficult to put forth any argument to the Tax Ruling by the Hacienda, where it is stated that these schemes in no way mitigate or reduce IHT. It is a simple fact of life.

      Other banks also stated that their similar scheme mitigated “Wealth Tax. Again this is false. Purely and simply that one of Erva members was not only charged “Wealth Tax” but fined for not paying it on time. In other words these schemes do not allow for the mitigation of Taxes. Is this not the same thing.

    • Well I managed to get 2 out of 3 posts accepted. Again this is the second time I have tried to post this comment. On the first ocasión T the bottom of this comment box where it states ‘I am not a robot this was overlaid by reference to the Landsbanki scheme. When this box was ticked the comment was lost. On this occasion this Landsbanki overlay was not evident. I am wondering whether other members are having the same problem, give up in frustration and do not try to comment. Should Erva admin pick up this post, perhaps they could look into the matter.

  • 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 […]

  • In reply to: admin wrote a new post, Rothschild Loses Equity Release Case in Spanish Courts International Property Finance Spain Limited (“IPFSL”), an unregulated corporate ramification of sinister N.M. Rothschild & Sons, […] View

    Dear Gary,
    Have you formally accepted the inheritance at a notary? If you wish, you can email us at info@erva.es and we will provide information on the best course of action.
    Kind regards,

  • admin posted a new activity comment 8 months, 3 weeks ago

    In reply to: eddie posted an update in the group Rothschild Victims Just a small question The documents that were signed at the notary for credit select 4 with N M Rothschild & Sons through N M Rothschild & Sons (CI) Limited […] View

    Dear Eddie,

    The fact that they are not regulated does not affect the signatures. On the title deeds, their names do not appear.

    Kind regards,

  • In reply to: aflores wrote a new post, Nykredit and Sydbank Cheated Foreigners with Mortgages Worth Millions Two Danish Companies persuaded British property owners to take out mortgage loans they could not […] View

    Dear Nick,

    Many thanks for your email. We would have to review your mortgage deeds to find out if we can help you. Do you happen to have a copy? If so, please email a copy to info@erva.es.

    Kind regards,

  • A very worried Old Mutual International Isle of Man has lost its bid to have the Spanish Courts deny jurisdiction to judge the illegality of the “Executive Investment Bond”, as reported by the El Confidencial onl […]

    • Isle of Man company loses its bid to deny legal jurisdiction to the Spanish Courts!!!!

      Disputing “jurisdiction” in the matter of alleged financial crime can present a convenient escape exit for certain parties … When companies registered/based on the Isle of Man design financial products and organise their marketing in other jurisdictions via third parties based in these jurisdictions (in many cases Spain); the luckless investors in these “products” enter into express and direct agreement with the Isle of Man based companies, and as the contracts are signed within the Spanish legal jurisdiction both parties would appear to be bound by Spanish law.

      Isle of Man financial companies, which are not licenced or authorised by the Spanish financial services regulator (CNMV) to market their products in Spain, are notorious for promoting their financial products via “intermediaries” who are similarly unauthorised and acting illegally. In the past the Isle of Man regulator (FSA) has informed the many victims of Isle of Man based financial scams that they must seek redress through the Spanish Courts as the (alleged) fraud was committed outside Isle of Man legal jurisdiction.

      Paradoxically – The Isle of Scams has an effective firewall protecting its financial services industry and seeking redress through the Spanish courts could be simpler than attempting to obtain justice through the Byzantine labyrinth of the Isle of Man legal system – or indeed the Isle of Man Financial Services Authority also infamous for its obscurity and absence of impartiality.

      Are luckless investors better seeking restitution outside the Isle of Man – whilst the “product providers” are better seeking protection on their “home” ground?

    • Isle of Man company loses its bid to deny legal jurisdiction to the Spanish Courts!!!!

      Disputing “jurisdiction” in the matter of alleged financial crime can present a convenient escape exit for certain parties … When companies registered/based on the Isle of Man design financial products and organise their marketing in other jurisdictions via third parties based in these jurisdictions (in many cases Spain); the luckless investors in these “products” enter into express and direct agreement with the Isle of Man based companies, and as the contracts are signed within the Spanish legal jurisdiction both parties would appear to be bound by Spanish law.

      Isle of Man financial companies, which are not licenced or authorised by the Spanish financial services regulator (CNMV) to market their products in Spain, are notorious for promoting their financial products via “intermediaries” who are similarly unauthorised and acting illegally. In the past the Isle of Man regulator (FSA) has informed the many victims of Isle of Man based financial scams that they must seek redress through the Spanish Courts as the (alleged) fraud was committed outside Isle of Man legal jurisdiction.

      Paradoxically – The Isle of Scams has an effective firewall protecting its financial services industry and seeking redress through the Spanish courts could be simpler than attempting to obtain justice through the Byzantine labyrinth of the Isle of Man legal system – or indeed the Isle of Man Financial Services Authority also infamous for its obscurity and absence of impartiality.

      Are luckless investors better seeking restitution outside the Isle of Man – whilst the “product providers” are better seeking protection on their “home” ground?

    • ISLE OF SCAMS – Comfortable relationships between poachers and gamekeepers?

      In what is becoming a habit on the Isle of Man (established by John Bourbon of the discredited Premier Group) the revolving door between the Isle of Man Financial Services Authority (FSA) and the financial services industry it “regulates” continues to rotate as Peter Kenny former board member of the FSA is appointed managing director of Old Mutual – Isle of Man.

      And like the Premier Group (Isle of Man) Limited changed its trading name … Old Mutual has decided to change its from “Old Mutual” to “Quilter”.

      Incest in the Isle of Scams financial services industry? Who would have thought it!

    • ISLE OF SCAMS! Comfortable relationships between poachers and gamekeepers?

      In what is becoming a habit on the Isle of Man (established by John Bourbon of the discredited Premier Group) the revolving door between the Isle of Man Financial Services Authority (FSA) and the financial services industry it is supposed to “regulate” continues to rotate as Peter Kenny former board member of the FSA is appointed managing director of Old Mutual – Isle of Man.

      And like the Premier Group (Isle of Man) Limited changed its trading name … Old Mutual has decided to change its from “Old Mutual” to “Quilter”.

      Incest in the Isle of Man financial services industry? Who would have thought it!

    • Unbelievable. I hope this is not fake news.

    • Unbelievable. These banks will stoop to any measures to keep these out of the Spanish Courts. I can understand why as it does seem that every month courts are ruling against these predatory banks.

  • admin posted a new activity comment 9 months, 1 week ago

    In reply to: eddie posted an update in the group Rothschild Victims do independent financial advisors have to be registered with Comisión Nacional del Mercado de Valores CNMV in Spain and is there any other regulator that […] View

    companies have to be registered and individuals must have specific education and on the following link http://cnmv.es/Docportal/Legislacion/Titulos/ListadoTitulos.pdf you can see the studies authorized by CNMV

  • admin posted a new activity comment 9 months, 1 week ago

    In reply to: billmac posted an update in the group Jyske Bank Victims Our debt has increased substantially and we are having to pay 185 euros a month to help service the interest. At age 82 it’s not how I thought life would be. View

    If you want us to review your documents and see if we are able to help you, you can email us at info@erva.es

  • admin posted a new activity comment 9 months, 1 week ago

    In reply to: GOAD became a registered member View

    Yes, there are ongoing cases against Jyske bank, but we are still waiting for the judge to fix the date for preliminary hearing of the case

  • admin posted a new activity comment 9 months, 1 week ago

    In reply to: GOAD became a registered member View

    Yes, there are ongoing cases against Jyske bank, but we are still waiting for the judge to fix the date for preliminary hearing of the case

  • The Appeal Court in Malaga has ordered the cancellation of a mortgage loan that was granted in favour of Surrenda Link Mortgages (SLM) on grounds that this company offered loans for investments but also, were […]

  • admin posted a new activity comment 10 months ago

    In reply to: charlie posted an update in the group Rothschild Victims Is this site really still active. I posed a question 2 months ago and have received nothing in return View

    Dear Charlie,
    Please do let us know what you require, but kindly note that we are unable to disclose any personal information. You can email us at info@erva.es for any queries or comments.
    Kind regards,

  • In reply to: admin wrote a new post, CHANGE OF FORTUNES: BANKS SET TO LOSE MILLIONS WORTH OF EQUITY RELEASE CONTRACTS A recent ruling by the Appeal Court of Bilbao -confirming an earlier ruling by the Court of First […] View

    Dear David,
    I am afraid that your understanding of the Law about loan is not correct, loans are not annulled if not repaid within 5 years, but within 15 years and it is enough if the lender sends you a formal notification before the 15 year period expires to make the validity of the loan to continue and request the full repayment.

  • In reply to: admin wrote a new post, CHANGE OF FORTUNES: BANKS SET TO LOSE MILLIONS WORTH OF EQUITY RELEASE CONTRACTS A recent ruling by the Appeal Court of Bilbao -confirming an earlier ruling by the Court of First […] View

    Dear Linda,
    Please email us for further details on your case, when you say that you have lost your property, do you mean it has been repossessed? You can email us directly at info@erva.es

  • An Estepona Court has order an indefinite stay of proceedings in respect to a foreclosure case brought by Nordea against a Danish Equity Release victim.

    Nordea’s aggressive stance was met with resistance […]

    • STANDARD CONTRACT TERMS – SCTs

      All financial products are subject to SCTs between investor/borrow and bank/product provider.
      Many of the visible terms in these contracts are grossly unfair …. whilst additional unfair “terms” are cleverly concealed.

      Amongst the tricks employed by the banks and financial product providers include:-

      * Concealing draconian early exit penalties
      * Representing unqualified and incompetent “agents” as professional IFAs
      * Failing to disclose huge commissions paid to agents
      * Neglecting to disclose fees, charges and commissions paid to accountants, lawyers and third parties.
      * Failing to disclose conflicting interests between banks, their agents and the public

      The financial services industry now appears to view their products as an opportunity to rob the public rather than assist the public. To this end they cloak their SCTs in vague, technical jargon which are indecipherable to the public – and sometimes to their own employees!

      A huge number of scams operated in Spain by fraudulent companies sometimes based in the Isle of Man, Jersey and Guernsey are responsible for many thousands of pensioners losing their life savings and sometimes their homes. This has bought disgrace and shame on the industry and people now flee in terror at even the mention of “investment funds”, “mortgages”, “equity release schemes” or even simple savings accounts.

      Standard Contract Terms (SCT)
      Unfair Contract Terms (UCT)
      Rip-Off Contract Terms (RCT)

      The three are often undistinguishable from each other.

    • I could not agree more. The mere mention of banks, investment portfolios and 5 year horizons sends shivers down my spine. Nordea was one of the worst culprits. Their method was somewhat simplified, to their minds. Once they had lost some 25% of the value of the portfolio they converted the investments to cash as they admitted they did not want to lose any more money. Then started foreclosure proceedings to recoup the money they had lost by their incompetence. If only they had left the money in the portfolios, eventually they would have clawed most, if not all of the monies back. Now we hear that Nordea Private Bank Luxembourg have abandoned the sinking ship and sold out to another bank. At last the courts are slowly coming to realise the gravity of the situation that Nordea have left many of their customers in and refusing to rule in the banks favour in foreclosure proceedings.

  • A recent ruling by the Appeal Court of Bilbao -confirming an earlier ruling by the Court of First instance-is to set the ground for future cases on the so-called Equity Release mortgage loans.  Three Judges […]

    • Congratulations to all SLM victims. It has taken some 9 years to get to this stage, but worth it in the end. Hopefully the Courts of First Instance will take this on board and uphold this very important and ground breaking ruling

    • Congratulations to all SLM victims caught up in this scam. Hopefully the Courts of First Instance will take this on board and rule accordingly against any bank or financial institution tha5 have peddled their products in Spain

    • More good meals for the cause. Hopefully the Courts will now take this ruling on board.

    • This is wonderful news about the court’s decision.We wish all the poeple who have been caught up in this scam the very best in the future.

    • To:- A ROTHSCHILD VICTIM

      Your comments about the “winners” being so-called “IFAs” are totally valid.

      The vast majority of these con merchants were not licenced, qualified, regulated or registered, they were bogus opportunists only interested in the huge commissions paid to them by the Premier Group and others involved in the scam. Many were recruited by Mr Charles Walton (a Premier director) who never examined (or deliberately ignored) their credentials – the Premier Group then represented them to the public (in writing) as “professional financial advisors”.

      These greedy slicksters knew nothing about financial products and everything about how to trick people into either losing their houses or transferring their life savings directly to the Premier Group.

      The Premier Group refuse to disclose how much commission was received by their “assistants” – maintaining this secrecy by paying them via a shell entity registered in the British Virgin Islands, a company which never produces any accounts. Over the years the Premier Group transferred £millions to this company where the money just disappeared into thin air.

      The slicksters have now all vanished and it is highly doubtful that any of them paid any tax to the Spanish Inland Revenue (La Hacienda) on earnings accrued in Spain – or more accurately, the proceeds of crime.

      Yep. These are the real “winners” and they will probably escape!

    • To:- A ROTHSCHILD VICTIM

      Your comments about the “winners” being so-called “IFAs” are totally valid.

      The vast majority of these con merchants were not licenced, qualified, regulated or registered, they were bogus opportunists only interested in the huge commissions paid to them by the Premier Group and others involved in the scam. Many were recruited by Mr Charles Walton (a Premier director) who never examined (or deliberately ignored) their credentials – the Premier Group then represented them to the public (in writing) as “professional financial advisors”.

      These greedy slicksters knew nothing about financial products and everything about how to trick people into either losing their houses or transferring their life savings directly to the Premier Group.

      The Premier Group refuse to disclose how much commission was received by their “assistants” – maintaining this secrecy by paying them via a shell entity registered in the British Virgin Islands, a company which has never produced any accounts. Over the years the Premier Group transferred £millions to this company where the money just disappeared into thin air.

      The slicksters have now all vanished and it is highly doubtful that any of them paid any tax to the Spanish Inland Revenue (La Hacienda) on earnings accrued in Spain – or more accurately, the proceeds of crime.

      Yep. These are the real “winners” and they will probably escape!

      • More information for the “victim” …

        The equity/money “released” from mortgaging unsuspecting victim’s homes in illegal “equity release schemes”, was bequeathed to investment funds which were worse than a heap of crxp.

        Any donkey could administer an investment fund better than the Isle of Man based Premier Group: and the huge fees charged by these funds, combined with substantial, undisclosed commissions paid to the unregistered and unqualified spivs posing as “financial advisors”, added up to nearly 20% of the value of the “released equity” – resulting in only 80% of the money finding its way into incurably funds where it was expected to “work” as if it was 100%.

        Ethical practice necessitates the incremental write-off of these fees over a five year period – and not their deduction on the first day. But then ethics and integrity were not a part of the SITIRs marketing plan which was focused on acquiring the equity contained in pensioner’s homes and gumming it into zombie funds which were principally intended to enrich the fund managers and various parasites and sycophants – but rarely the “investor” whose house had been mortgaged.

        When the spivs told innocent people/pensioners that relocating visible assets from property (which is assessable for Spanish inheritance tax) to some (dodgy) investment fund based in the Isle of Man would excuse any tax liability they were telling porkies. Worse than that! They were assisting in committing a criminal offence!

        So regardless of “your particular case”… . you have been conned and to discover how this trick is now unravelling you should continue to watch these pages!

    • To Rothschild victim

      No offence intended and I apologise if the remarks were taken as such.
      Sure we (mostly elderly people) were all conned, the trouble is that other people still deny it and, as you remarked in your original post, many of us may not be restored to the position we were in before the fraud took place.

      Events are still unfolding and the campaign will continue until justice is finally obtained.

      Love maria

      • Out if interest, who are the other people who still deny we were conned.?

        Surely not victims.

    • Can I ask what the situation now is regarding selling a property?

      I’ve been out of the loop since 2010 when I left Spain but now my ex-husband has returned to England as he had to have his leg amputated and wants to sell the property to existing tenants. Though we’re now divorced I’m still on the escritura.

      Having lost all our property through the scam he’s now in sheltered housing and has only been given one year’s tenancy and housing benefit because of the house in Spain.

      Neither of us has any funds for solicitors.

      • Dear Linda,
        Please email us for further details on your case, when you say that you have lost your property, do you mean it has been repossessed? You can email us directly at info@erva.es

    • Dear David,
      I am afraid that your understanding of the Law about loan is not correct, loans are not annulled if not repaid within 5 years, but within 15 years and it is enough if the lender sends you a formal notification before the 15 year period expires to make the validity of the loan to continue and request the full repayment.

  • The Appeal Court in Bilbao has upheld last year’s ruling by the Court of First Instance 11 in Bilbao and determined that  mortgage loans granted by Surrenda Link Mortgage (SLM) to invest with Premier Group […]

    • Hello … Does anyone know whether or not SL Mortgage Funding No 1 Limited, have appealed against the Bilbao Court of Appeal judgement? … Thank you …

  • BREAKING NEWS
    The Court of Appeal in Bilbao has dismissed totally the appeal launched by the SLM (Surrenda Link Mortgage) Madrid-based lawyers and upheld the first ruling of the Court of First Instance 11 in […]

    • It will be interesting to see if SLM decide to apply for permission to take this to the Supreme Court. I presume if they did and again lost then the Supreme Court could make a ruling that would benefit all victims of the various banks involved. I am also surprised that the Spanish regulatory body have not yet become involved and fined these banks. If this was the USA or U.K. they would have come down on the banks by now.

    • Hello … Does anyone know whether or not SL Mortgage Funding No 1 Limited, have appealed against the Bilbao Court of Appeal judgement? … Thank you …

  • Euan Armstrong, member founder and current President of ERVA, has managed to persuade a Court in Coin to dismiss loan foreclosure proceedings brought by Danske Bank International S.A. in 2010.

    The victim of […]

    • Well done Euan, you deserve this, Good luck

    • Well done Euan, you deserve this, Good luck.

    • Congratulations Euan all the best nice to see someone WINs

    • congratulations Euan hope I have success 24th October having lost the house hope to be successful with the appeal.
      Alan

    • Congratulations Euan and we hope the next step will be successful as well for you.There is hope for us all now.Keep pushing for justice.

    • Congratulations Euan,and the best of luck with the next step in your flght for justice.Keep pushing.

    • Janne Christgau ….. anybody can contact me at captaineuan@sunnyspain.org and I can sympathise with them and report on my situation. The an to talk to is Antonio Flores at lawbird in Marbella who is fighting for us every inch of the way. His email is aflores@lawbird.com and he willl be very happy to help so please contact him directly and good luck. In the meantime we continue the action against Danske Bank and hope to gain a Court appearance/trial very soon

    • Euan,

      So happy to hear of your success. Well done, it’s been a long hard fight. Congratulations.

      They didn’t know what they were taking on – a border reaver Armstrong.

      Bill Mc.

    • Hello Euan. Some success at last. Let’s hope the next stage of the fight will be equally successful and you and all victims will one day be clear of these fraudsters.

  • ERVA has compiled a list of known Equity Release Court rulings. The Courts have all found in favour of the victims and ordered the mortgage loans to be removed or have rendered the foreclosure proceedings invalid. […]

    • Important to remember that these illegal schemes were designed to “release equity” for financing fraudulent “investment funds” – like those operated by the Premier Group (Isle of Man) Ltd.

      These funds were being “milked“ by dozens of parasites including banks, lawyers, accountants, fund managers, fund promotors and sales agents. Even if the funds had been viable entities the amount of money being stolen would still have destroyed them – which is exactly what happened!

      The victims of these illegal equity release schemes were up against dozens of crooks.
      Thankfully they have now met their match!!!

    • Important to remember that these illegal schemes were designed to “release equity” for financing fraudulent “investment funds” – like those operated by the Premier Group (Isle of Man) Ltd.

      These funds were being “milked“ by dozens of parasites including banks, lawyers, accountants, fund managers, fund promotors and sales agents. Even if the funds had been viable entities the amount of money being stolen would still have destroyed them – which is exactly what happened!

      The victims of these illegal equity release schemes were up against dozens of crooks.
      Thankfully they have now met their match!!!

    • Hi, I am not a victim of Nykredit nor do I know the company or the victim,

      I am however a victim of another band of bank robbers and suggest the victim in your case discusses his case with a lawyer.

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