Court of First Instance 11 in Bilbao has accepted a motion by claimants to enforce proceedings against SLM and ordered the following:
- The freezing of assets owned by SLM to cover as much as 6,262,574 Euros, plus legal interest.
- The cancellation of mortgages registered in favour of SLM on the properties owed by the claimants, by ordering the Land Registries of Alora, Mijas, Javea, San Roque, Estepona, Coin, Velez-Malaga and Marbella to remove same.
- The annotation of the Court ruling in the indicated land registries.
This groundbreaking Equity Release ruling applies in full art. 1306 of the Civil Code (reserved for serious law breaches and violations of public order) and orders the defendant SLM to not only suffer losing the rights of a registered mortgage but, in addition, to pay the claimants the loan that was withheld to invest with Premier Group Isle of Man (now in liquidation).
SLM does not have the right to appeal but can oppose this decision, within 5 days.
The above decisions are adopted provisionally, pending the outcome of the appeal process. As with most rulings, claimants are by law entitled to enjoy the result of a favourable ruling on the understanding that, should the ruling be reversed on appeal, the successful appellant may request a restitution of the gains received.
Currently, only 20% of rulings are overturned by Appeal Courts.
Wonderful, wonderful result!
What is glaringly obvious is that the governments and regulatory authorities of the countries which allow these people to operate their scams from know all about their illegal activities.
But despite full knowledge of suspected criminality the regulatory authorities on the Isle of Man (in particular) Guernsey and Luxemburg habitually fail to respond to allegations of misselling, deception and fraud submitted to them by hundreds of innocent victims of financial scams.
The governments of these countries play “Stupid Like a Fox” … protecting the illicit activities of their resident financial services industries by pretending that they are too stupid to know what is happening.
But once irrefutable evidence emerges that offences are being conducting from their miserable tax havens they face a dilemma as to whether to continue acting as “Mr Stupid” or change characters and become “Mr. Fox”.
Psychiatrist identify this predicament as “multiple personality disorder” … a condition where a person’s identity fragments into two distinct personality states both competing to take control . These people may also experiences memory loss that is too extensive to be explained by ordinary forgetfulness.
The net result is that criminals are tolerated (sometimes encouraged) on these islands until it becomes impossible to disguise their activities … unfortunately the “regulators” wait far too long playing Mr Stupid before switching to the role of Mr Honest Fox.
The simple solution is to never to conduct any financial transactions in these disgusting places.
Really great news for the Rothschild victims. I would agree with Steve. Why should victims have to pay anything back. Surely they are the ones who should be receiving compensation from the crooks who sold them the fraudulent schemes in the first place.
This was meant to be posted under the Rothschild posting. No matter the same applies to the victims of the surrender linked Mortgages.