Tag archives for SLM Holdings

BREAKING NEWS: the BILBAO APPEAL COURT UPHOLDS THE ILLEGALITY OF THE SLM MORTGAGES

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Audiencia de BizkaiaBREAKING 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 Bilbao.

SLM’s choices are to accept the ruling and not interfere in the cancellation of the mortgage loans or explore filing an exceptional appeal with the Supreme Court, a route only accepted in very specific cases.

More to follow in the next post.

The Premier Balanced Fund and Surrenda Link Mortgage

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The Premier Balanced Fund was described as an “experienced investor fund”, restricting it to people capable of understanding the risks, but they needed a lender who could come up with 40 million Euros to invest in their fund.

SLM Funding Nº1 Limited won the tender process: it was selected by the Premier Group (Isle of Man) Ltd. to find those 40 million Euros, an order they carried out efficiently: Aareal Bank was convinced to pool resources, some say Rothschild too…

But there was an added element in the form of bricks and mortar: approximately 100 Spanish properties would be used as collateral to ensure that, if the investments went down, 200-odd British pensioners could be made responsible of footing the bill.

The “experienced investor fund” is now probably worth less than half and the ex- mariners, ex-policemen, house wives and other Spain-based retirees who were instilled with the Fear of God with the Spanish Inheritance Tax -and fell for the scam- have their properties, and lives, bogged down.

Perverse Nicky Flux, loyal till death to SLM, keeps sending her monthly letter out to pensioners…letters coming from a company that would disgrace any Nigerian 419 business.

Terms & Conditions

The Premier Balanced Fund plc (“the Company”) is an experienced investor fund and complies with the requirements of the Financial Supervision (Experienced Investor Fund) (Exemption) Order 1999 (the “Order”) of the Isle of Man. Shares in the Company are only available to persons sufficiently experienced to understand the risks associated with an investment in the Company and who are willing to invest more than the minimum specified in the Order.The Value of shares in the Company, and the income produced by them can fall as well as rise. Investors may not get back the value of their original investment.The Company, is not subject to any form of regulation or approval in the Isle of Man and investors are not protected by any Isle of Man statutory compensation arrangements in the event of the failure of any of them. The Isle of Man Financial Supervision Commission does not vouch for the financial soundness of the Company or for the correctness of any statements made or opinions expressed with regard to any of the same. It is the responsibility of any person/s wishing to apply for Shares in the Company to inform themselves of, and to observe, all applicable laws and regulations of any relevant jurisdiction.

I have read and understood the above information

   

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