“Do not lie down but stand up and fight them!"
An Estepona Court has order an indefinite stay of proceedings in respect to a foreclosure case brought by Nordea against a Danish Equity Release victim.
Nordea’s aggressive stance was met with resistance from lawyers acting for the customer, who invoked the abusiveness of the early maturity or redemption clauses and the pending resolution by the European Court of Justice, who will decide on their potential illegality.
Nordea Bank Luxembourg has been reported nationally for helping the Mayoress of Marbella, Maria Angeles Muñoz, avoid Spanish Inheritance Taxes.
According to Interviu weekly Nordea Bank S.A., operating from the tax haven of Grand Duchy of Luxembourg and through an office in Marbella, sold a tax evasion mortgage to Ms. Muñoz.
This story was originally published by ERVA when it detected that a company owned by the Marbella Mayor and her husband, Crasel Panoramica S.L., had taken out an Equity Release in 2010.
Nordea Bank S.A. has been publicly accused of cheating customers by making them believe that their product is a legal vehicle to avoid IHT, when such a possibility is tantamount to tax fraud.
