Archives for May, 2013


Below is an informative letter sent to Rothschild potential claimants.


Dear Sir/Madam,



We hope this email finds you well.



The purpose of this email is to confirm that we will be lodging our claim against N.M. ROTHSCHILD & SONS for misleading and illicit advertising with the Courts in Malaga (Juzgados de lo Mercantil) next Friday 7th of June 2013.



We have experienced some delays due to not having documentary evidence which we consider to be relevant, as well as an unexpected Court filing fee that came into force shortly after our decision to file which meant that the case would have cost an additional 15k Euros to proceed with.



However, we can now confirm that we are now in a position to proceed as we have gathered a compelling amount of misleading advertising that constitutes the backbone of the case that is being filed with the Courts (to be posted at the ERVA site over the weekend).



The referred to advertising was produced by Rothschild and also, by the IFA companies that were selected by Rothschild to sell the product. This advertising is false, untrue and encourages tax evasion by suggesting that Spanish Inheritance Taxes are so onerous that is nothing is done, inheritors of Spanish unencumbered property owners would be prevented from inheriting and the property would be lost to the Spanish State.



Other fallacious arguments include stating that the Rothschild mortgage is different from a normal mortgage, that the clients “…will not be exposed to unnecessary risks”, that the product “…is designed in such a way that it will potentially produce enough income to service the loan and also, leave a bit of money for the borrower”, that it is a “…responsible product” or “…similar to the Spanish reverse mortgage”, that Rothschild had “…restricted the availability of this product to handful of selected intermediaries” (Hamiltons and Henry Woods), that a “…Mrs. Smith (fictitious person) would have discovered following the death of her husband, to her horror, that IHT in Spain could reach 81.60% in Spain” (when the maximum liability of a spouse is limited to just over 34%) and many more.



Similarly, deliberate omission of the risks involved in the product are considered to be misleading and therefore, illicit. As an example, Rothschild deliberately concealed the consequence of the very obvious and unavoidable scenario where the investment does not cover the cost of the loan: you lose your home.



The writ includes several petitions to the Courts: that the advertising is declared illicit, that Rothschild runs at least 4 ads on the Essential Magazine rectifying the misleading publicity (at their cost) and that all contracts signed as a result of such publicity are set aside, restoring customers to their original position prior to signing of the Credit Select mortgage loan, insofar as is practicable.



Finally, we would like to stress that some IFAs are currently advising against going to Court and are recommending what is called as a “Standstill Agreement”. We would like to advise that such document is a legally useless agreement that does not deal with the fraudulent nature of the CreditSelect loan and is designed to buy time for Rothschild, who prefer to deal with the less belligerent children of their victims as they pass away. In other words, it is a cynical money-making ruse designed at the expense of perpetuating the suffering that N.M. Rothschild & Sons is inflicting on innocent property owners.



If you have not yet joined this case and you wish to, kindly reply to this email so that we can provide you with the necessary instructions.



With best regards


Rocco CAIRA, lawyer for clandestine SL Mortgage Funding

ERVA could have not found a better word to describe the client that Mr. Caira represented in Spain: clandestine.

From his Bilbao office, this “contract negotiator” expert had wholly ommited the fact that his client, Surrenda-Link Mortgage Holdings, had no authorisation to operate in Spain because it lacked the required license by the Bank of Spain…without exception. This means that it was in breach of EU mandatory regulatory compliance with the host country, among other minor legals of obligatory observance.

Together with his pal Javier Bicarregui Garay, another submissive lawyer who in turn represented -remotely- the victims of this fiasco devised by Charles “Charlie” Walton (without ever meeting them, talking to them or even the basic thing such as checking out the operation), with a power of attorney, tens of mortgage loans were signed off on distant properties via a servile happy-to-please Bilbao Notary…all of them, without exception, for an illegal investment purpose to evade Spanish taxes.

Mr. Bicarregui Garay was granted, according to the press, the Order of the British Empire.

It is strongly recommended that anyone that had given a power of attorney to Mr. Bicarregui Garay inmediately revokes it by formally signing a revocation of power of attorney public document, at the closest Notary Public.



Misleading Publicity Legal Suit to be Filed Against Rothschild

The DGT (General Directorate of Tax) has confirmed that mortgage loans for any other purpose than buying the property on which they are registered, are not deductible for Spanish Inheritance Tax Purposes.

Binding consultation 04423-13 received by Lawbird lawyers today (28th May), refers also to loans granted abroad (such as those by Rothschild, SLM, Nykredit etc.) that are guaranteed by mortgages on Spanish property and is adamant: only real debts can be used to mitigate taxes.

Nobody questions that N.M. Rothschild & Sons could and should have ensured that the product they were selling was legitimate, just like any diligent person carrying out any commecial activity in Spain would do (and indeed any where in the world).

Instead, they chose to make their clients accomplices of tax fraud because some inept lawyer at Gomez Acebo & Pombo decided that it was legal, at the insistence of clowns Mark Coutanche and Steve Dewsnip, to run this circus.

Claimants will demonstrate that all the publicity issued by Rothschild, and the companies they used to sell the product CreditSelect Series (as confirmed by honest and helpful former employees) is false, fraudulent, encouraged tax evasion and has caused untold grief on victims.

The legal suit against Rothschild is to be lodged with the Malaga Mercantil Courts on the 7th of June 2013.

The Lies of Barclays London on Equity Release

Barclays´ letters seem to dig a hole deeper for them whether it is to insist about the inheritance tax benefits (they still believe it works!) of their Spanish Property Investment Secured Loan (“SPISL”) or, as it happens, to question how could have someone been possibly introduced to Henry Woods Investment Managers,  of all agents.

Letter. Click on Image for full PDF version (1.3 Mb)


In this latest missive, it says that the banks is not providing advice to you about your own position so you may wish to take your independent advice, but I would hope that you take some comfort from the Bank’s conclusion. And their conclusion is that the bank has satisfied that the scheme is not illegal.

It then says that our records do not detail how you were introduced to HWIM…. perhaps this photo can clarify this seemingly unsolvable enigma, as well as how one ends up dealing with Barclays, offering tax evasion products, from the very heart of the City.

Once again, the rats abandon the sinking ship!

Danske Bank Golfer John Ludskov

Danske´s John Lundskov golfing abilities ensured he could get many clients for his fraudulent Spanish Equity Release/Capital Assurance.

One of such clients has just passed away: he was Danish, just like Lundskov, and had sufficient funds to not have to beg, borrow, work or deal with evil bankers. And yet, he was sold the miracle product by Lundskov on grounds that his IHT exposure would be close to 80%.

His partner has now been left with a complicated situation: on the one side, she has documents from Danske Bank saying that this product is great to legally avoid taxes. On the other, Lundskov and Henrik Hjerrild Hansen are now nowhere to be seen when the tax thing is raised. And to make things even more complicated, the Spanish Tax Office has stated that under no circumstance is a loan a valid vehicle to avoid taxes in Spain, if it was not used to buy a home.

We will now formally demand from Danske Bank Luxembourg that they comply with their “tax avoidance” undertakings and foot the bill, as appropriate.

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