Following the revelation that the boss of Landsbanki’s legal team¬†in Spain, Emilio Cuatrecasas, had¬†come under fire from the Spanish Tax Office,¬†Yvette Hamilius decided to pull the plug on them and appoint Plazas Abogados, based in Marbella and Sotogrande.
This move comes as a surprise since¬†Plazas Abogados was one¬†of the legal firms that¬†actively participated,¬†in the years¬†2005-2008,¬†in the¬†perpetration¬†of this widespread scam.
Plazas Abogados have since confirmed that Landsbanki’s product did not aim to avoid IHT, adding that the bank did not offer the Equity Release product to avoid IHT.
Sadly for Plazas, two different lawyers for Cuatrecasas have argued quite the contrary: that the Equity Release was a popular product to minimize IHT and that this was the main reason why they bought into it (sic).
Read¬†Landsbanki’s Torben¬†Bjerregaard explaining all that needs to be known about IHT (translation required): http://www.sydspanien.dk/article.170.html