International Property Finance’s bid to have its response writ accepted by a Fuengirola Court has been rejected for being filed late. “IPFSL”, an Rothschild’s offshoot that operated in Spain without regulatory clearance, failed once again to respond within the time limits of civil litigation procedural law.

Strangely enough, “IPFSL” registered its interest in the equity release case on the 19/11/18 but only submitted its response to the claim writ in February 2020, that is, almost 14 months later.

Lawyers acting for the claimant, Lawbird Legal Services SLP, believe Rothschild bank does not wish to have to defend claims filed against a non-regulated dependent entity -a decision largely based on reputational motives- and yet, are trying to delay the case as much as permissible under existing laws.

Co-defendant Swiss Life Luxembourg S.A., where the proceeds of the mortgage where invested through, is also in default and will not be defended in the up and coming trial, to be held within the year.