Tag archives for NM rothschild & Sons

Rothschild Contests Misleading Advertising Claim


Update from the Malaga Courts: Rothschild finally submits defendant’s writ to the claim brought by victims of the tax-evading CreditSelect Loan.

The allegations contained therein could hardly be more implausible:

  1. That NM Rothschild & Sons has no relationship whatsoever with the advertising, only attributable to RBI (Rothschild Bank International). Now if we click on the above logo, it takes us a firm whose corporate website happens to be hosted by NM Rothschild website.
  2. That both are two distinct companies that do share the same name but are, nevertheless, separate entities, strange coincidence we’d say…
  3. That NM Rothschild & Sons intervention was that of being a ‘mere’ lender and consequently, is not responsible for the advertising promoted by RBI and as a result, cannot be sued (NM Rothschild tries to dissociate itself from RBI only to admit that the product was promoted by RBI and granted  by NM Rothschild…can anyone make sense of this?).
  4. That the equity release product was created by Hamiltons Financial Services and Henry Woods Investment Management, and not NM Rothschild who, they insist, was a mere innocent lender.
  5. That the advertising fby RBI was backed by Uría & Menéndez, top Spanish law firm who in 2004, drafted a comprehensive tax report and has to therefore be deemed bona fide.
  6. That Mr. Nott’s affidavit is biased and consequently, untrue (showing great concern too in respect to Mr. Nott’s comment that Rothschild did provide financial advice).
  7. That whatever the advertising was- never mind the Spanish Tax Office- it was all true because a Uria & Menendez sanctioned it (aside from conveniently manipulating the report to avert responsibility).
  8. That the clients could not prove that they’d read the advertising! This very shameful allegation should embarass any person, let alone a 300-year old lender. As it happens, the laws are able to cope with even the most devious operators, such as Rothschild: read the term “Probatio Diabolica“.

Rothschild Case: Málaga Court Formally Orders Service of Process

The Malaga Mercantile Court 1 Bis, with date of the 7th of May (received by actign lawyers on the 5th June) has formally accepted the claim, its jurisdiction on the matter and service of process on the Spanish addresses provided for N.M. Rothschild & Sons.

Defendant Rothschild could do one of the following now:

  • Accept service of process, appoint lawyers and defend the claim.
  • Attempt to refuse service of process in any of their 2 addresses in Spain (Madrid and Barcelona), demanding the Court to service in their Guernsey offices.
The Courts can then do one of the following:
  • Where service of papers is accepted, the 20 days period will start counting.
  • If they refuse and request that the Particular of the claim are notified in Guernsey, the Court may reject their allegations (most probably) and note their refusal to accept and acknowledge service, continuing the case by default. Alaternatively, the may accept the defendant’s allegations and decide to serve in Guernsey (unlikely).
It is possible that Rothschild will do anything in their hand to delay, obstruct, confuse, protract and hinder the efforts of their victims in exposing their Credit Select Series 4 mortgage loan deceiptful advertising, all the while arguing that, whatever was published on the tax benefits of their product it was “for guidance only”, and not be “relied upon”.

ERVA considering criminal action vs. Rothschild

ERVA is considering joining criminal case 527/2011 in Denia (Alicante) pursued against N.M. Rothschild & Sons, Steve Dewsnip and others.

The case seems to have stalled after attempts to deliver Court papers to IFAs failed to materialize (as a result of them not living in those addresses).

Joining this case may help the acting solicitors and their clients by pushing proceedings with fresh new publicity evidence, broker affidavits and other relevant information which has already been filed with the Malaga Courts.


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