Tag archives for Equity Release Spain

SLM Decision Still not Official

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Having the Appeal Court notified the parties that by the end of June they would have resolved the appeal to the Equity Release “Bilbao case” ruling, it is almost October and there is no official notification.

This is not unusual and should not be interpreted in any particular sense.

We eagerly and optimistically await the decision from the Court.

Pretrial hearing vs. Rothschild held in Malaga

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PalacioJusticiaClaimants in the equity release CreditSelect 4-Series loan case against N.M. Rothschild & Sons and their respective lawyers held a case management hearing, or pre-trial hearing, at the Mercantile Courts in Malaga.

The hearing lasted for a about 1 hour, inclusive of a short recess demanded by the Judge to consult case law on a specific point of law.

The purpose of this meeting was to narrow the issues involved in the case, set deadlines for providing clarification documents, conducting discovery and listing the witnesses who will be attending the hearing.

Rothschild lawyers unsuccessfully attempted to adjourn the hearing on grounds that one of the claimants had passed away, a petition outright rejected by the Judge. They also tried to file the following objections:

  1. Wrong identification of the companies offering the advertising and the mortgage loans, which they claim are different (Rothschild Bank International and NM Rothschild & Sons Ltd.) The court rejected this as being a matter to be decided on passing judgement, given that she had read the merits of the case and she did not in principle agree with Rothschild’s lawyers.
  2. Claim filed out of time, which they claim had had to be filed at the very latest in 2010. This was also swiftly not attended by the Court on grounds that it would be dealt with on passing judgement.

On the part of the claimants, lawyers submitted a list of proposed witnesses for the hearing that were all accepted, inclusive of the Baron David Rothschild.

On the whole, the prevalent feeling was the Judge was sympathetic to the claimant’s arguments which is positive.

The negative note relates to the date of the trial which lawyers for claimants find totally shocking yet, unfortunately, cannot be altered: 12th of November 2019.

Claimants not part of this case are not bound by this incredibly protracted timeline and are able to file legal separate actions for miselling/misrepresentation in the -hopefully- quicker Courts of First Instance.

On a different note, a crew from France2 television were present at the event and interviewed some of the victims. They were unsuccessful in getting any responses from Rothschild’s unfriendly lawyers who do not forgive the audacious ‘ambush’ on Mr. Steve Dewsnip who, in spite of being sought after a Criminal Court in Denia, had managed to stay ‘at large’ for years, even travelling freely to Spain to assist Rothschild in their cases against victims.

 

 

Elusive Steve Dewsnip now formally indicted by Denia Court

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Ever since Mr. Dewsnip turned up at a Marbella Court -15 days ago- to help his former company bash equity release pensioners seeking justice, his fortunes have been reversed. Tipped by lawyers acting for ERVA, the Marbella Judge ordered Mr. Dewsnip -who had been issued with a search warrant- to provide an address in Guernsey for notifications and further remitted the findings to the Denia Court.

The Judge presiding over this case in Denia has lost no time and ordered claimants’ solicitors to submit a list of questions that he will have to respond at the appropriate Guernsey Court. This deposition will be made via “letter rogatory”, as with Baron David de Rothschild.

Marbella Court orders Stephen Dewsnip to give an address for summons

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Steve Dewsnip has been formally ordered by the Marbella Courts to provide an address for summons, as petitioned by a Denia Court via a Search Warrant.

Mr. Dewsnip, who is ‘disappeared’ for the Denia Court where proceedings are currently underway against himself, Baron David de Rothschild and Mark Coutanche, is nonetheless alive and contactable when required to¬†turn up in Marbella to testify tin favour of his old bosses, N.M. Rothschild & Sons, on other cases brought against the latter company.

As it happens, lawyers acting for ERVA turned up at the Marbella Court and requested the Guardia Civil, whom were handed  the document that is currently visible on this site, to warn the Judge -presiding over a case brought by victims of Rothschild- that Mr. Dewsnip was listed as a witness for the Guernsey-based bank.

So what exactly happened later is uncertain, as ERVA lawyers were not present, but it appears that when Mr. Dewsnip went in to the Court the Judge asked him not to leave straight after finishing his deposition as he had to be notified of a summons from a criminal Court.

Rothschild lawyers were needless to say outraged and were looking for those to blame for what they deemed underhand and disloyal tactics.

Meanwhile, we are eagerly waiting for news on Mr. Rothschild interrogation at the appropriate French Courts.

Rothschild case: Denia Court sends letter rogatory to Paris

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Denia Court  1 has now received the translations from the Benidorm Translation Services Office and ordered a letter rogatory to be sent to the Paris appropriate judicial office. The letter of request obviously includes a petition that Baron David de Rothschild answers the questions submitted by the various lawyers.

The Court decision can be said to be an official judicial decision to formally interrogate Mr. Rothschild in the Court of his domicile.

Rothschild Criminal Case: Denia Court Urges Benidorm Translation Services

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Denia Court number 1 has issued a note urging the Benidorm Translation Services (Servicio de Traducciones de Benidorm) to speed up the international rogatory letter translation, into French.

At the same time, the State Prosecutor has requested from the ¬†Court that investigation proceedings are declared as “complex”, a description that give the Courts -under recently approved procedural regulations- 18 months to conclude the investigation and either drop charges or, where the evidence is sufficient, proceed with trial stage.

Rothschild Denies Responsibility Over Equity Release

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Claire Whittet

Attempts by MP Huw Irranca-Davies to seek a plausible explanation as to the purpose of the Credit Select tax-evasion facility, and the effects it has had on purchasers of this mortgage/financial scheme, has been met with indifference by an ubiquitous Claire Whittet, from Rothschild. The below email was sent to ERVA from the office of MP Huw Irranca-Davies, together with Rothschild`s formal answer:

Further to a recent meeting between representatives of Rothschild and Huw Irranca-Davies MP, the following letter was received. (attached)

Rothschild have agreed that this can be publicly circulated, so I have posted this on the ERVA site and Huw hopes it may be useful.(hopefully tomorrow/Friday)

Huw Irranca-Davies reiterates that he cannot ‚Äď for reasons of parliamentary protocol and resources ‚Äď enter into individual correspondence with individuals other than his own constituents. Where individuals have a direct or clear familial link with a UK parliamentary constituency you may want to approach the relevant Member of Parliament for that constituency. Huw is happy to discuss the issues with any other M.P‚Äôs and to collaborate where appropriate.

Rothschild Case: M√°laga Court Formally Orders Service of Process

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The Malaga Mercantile Court 1 Bis, with date of the 7th of May (received by actign lawyers on the 5th June) has formally accepted the claim, its jurisdiction on the matter and service of process on the Spanish addresses provided for N.M. Rothschild & Sons.

Defendant Rothschild could do one of the following now:

  • Accept service of process, appoint lawyers and defend the claim.
  • Attempt to refuse service of process in any of their 2 addresses in Spain (Madrid and Barcelona), demanding the Court to service in their Guernsey offices.
The Courts can then do one of the following:
  • Where service of papers is accepted, the 20 days period will start counting.
  • If they refuse and request that the Particular of the claim are notified in Guernsey, the Court may reject their allegations (most probably) and note their refusal to accept and acknowledge service, continuing the case by default. Alaternatively, the may accept the defendant’s allegations and decide to serve in Guernsey (unlikely).
It is possible that Rothschild will do anything in their hand to delay, obstruct, confuse, protract and hinder the efforts of their victims in exposing their Credit Select Series 4 mortgage loan deceiptful advertising, all the while arguing that, whatever was published on the tax benefits of their product it was “for guidance only”, and not be “relied upon”.

2 Danske Bank executives to appear in a Fuengirola Court over fraud allegations

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Henrik Hjerrild Hansen & John Lundskov Larsen på kontoret i Fuengirola

According to Sur Newspaper, two executives of the largest Danish bank, Danske Bank, have been ordered to appear before the Criminal Court 1 in Fuengirola to be deposed in relation to two charges of swindle and misleading publicity, brought by Euan Armstrong, a Briton who was sold an equity release mortgage.

 

The bank’s employees (Henrik Hjerrild Hansen -above left- and Morten Runo Waaben), currently working from the Luxembourg branch office,  are due to appear in Court on the 23rd of January and are to be questioned by the Judge and the claimant’s legal representatives, Lawbird Legal Services.

 

The Court ruling has also ordered the legal representatives for Danske Bank International S.A. to appear in Court, on the same day, in a capacity of ‚Äėcivilly responsible party‚Äô, inasmuch as corporations did not have criminal responsibility when the alleged fraud took place.

 

According to the writ filed by the claimant in 2011, Danske Bank convinced him in 2005 to mortgage his retirement home in Alhaurin El Grande (M√°laga) to guarantee a loan that was directly invested in financial speculative investment transactions, in Luxembourg, without the capital ever coming to Spain. The financial product, called ‚ÄúCapital Assurance‚ÄĚ, promised interesting tax benefits compliant with Spanish laws in respect to Inheritance and Wealth Taxes by reducing or eliminating the taxable value of the property, once the mortgage was registered against it.

 

According to Lawbird’s representative, Danske Bank even falsified the content of a tax report on the product prepared by KPMG, one of the largest professional services company, by interpreting its conclusions in an unlawful manner with the purpose of facilitating sales.

 

The news release points out that KPMG has deemed ‚Äėfalse‚Äô a statement made by Danske Bank in their promotional marketing whereby the former had approved the tax benefits, as well as a formal request by KPM to Danske Bank to cease the use of their name and the removal of any reference to them having given their blessing to the financial product.

 

The text makes reference to a recent ruling by the Spanish Tax Office that concluded that the so called Equity Release on Spanish property is not a valid scheme for lawful tax mitigation but tax fraud, and a criminal offence where the defrauded sum exceeds ‚ā¨120,000 per tax year.

 

An indictment has also been brought against Peter Staarup, former Danske Bank CEO, as head of the Danish company that is believed to have sold in Spain over 100 ‚ÄúCapital Assurance‚ÄĚ Equity Release mortgage loans worth tens of millions.

 

 

 

 

 

 

Nordea Bank S.A. in Switzerland Tries to Hide Crucial Info

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Nordea Bank S.A. in Switzerland is in the process of downsizing in the way Sydbank did, we believe. We may recall that this other bank, after cheating the tax offices of several European countries out of millions, was forced to close down (an acclaimed Julie Toft, from the Jyllands Posten, was responsible for the mess Sydbank got involved in).

Now Nordea, keen to cover their tracks, have been erasing very incriminating web-based information so that lawyers acting for Spanish-based Equity Release victims could not prove certain questions of fact, principally related to Inheritance Tax evasion.

 

These are the links they have erased (in the last few weeks):

Erased link number 1

Erased link number 2

Erased link number 3

 

Watch this information whilst it lasts in Google cache!

(Naughty Nordea, you did not really have to stoop so low…)

 

 

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