Tag archives for SLM

SLM and PREMIER GROUP in Court on 14 July 2016

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SLM (Surrenda Link Mortgages) and Premier Group will attend trial at the Bilbao Courts on the 14/07/2016. Lawyers for all parties have objected to at least three trial date appointments as they had other cases to attend.

According to the claimants’ writ, SLM and the Premier Group, both lacking permission to operate in Spain, orchestrated the marketing and sale of a financial product for inheritance tax mitigation purposes.

SLM has argued that they were just the lenders, having no participation in the investment side of the product. For its part, The Premier Group argued that they had never operated in Spain and that they are not the same company as The Premier Group that operated prior to 2009, which was domiciled in the BVI.

Lawyers for claimants proved that both companies are the same, having shares offices, telephone and fax numbers and even today, email and website addresses. The document proving this has been recently admitted by the Court as evidence in support of claimats’ allegations.

 

 

SLM Group Gave 40 Million in Spanish Equity Release

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(image of Peter Hardy)

It has been revealed that Surrenda Link Mortgage Holding Limited, now SLM Group, gave 40 million Euros in Spanish tax evading mortgage loans.

The firm Blake Morgan assisted Surrenda-link Mortgage Holding Limited, a mortgage originator, in obtaining a €40 million ring-fenced Spanish asset funding facility.

For its part, Pinsent Masons, a London based banking team, advised Via Capital Limited, in its capacity as arranger of a €40 million secured loan facility to finance a pool of ‘cash release’ mortgages originated by Surrenda-link Mortgage Holdings Limited.

SLM then employed local IFAs, such as Hamiltons (pictured), to peddle this toxic waste in the Spanish Costas.

Nothing new under the sun save for the exceptionally high size of the lending.

 

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