Author: IN DIEM Documentation Service.
\nCategories: Banking Law. Mortgage. Floor Clause.
\nDate: March, 2014 <\/p>\n
As is publicly known, the Plenary Session of the Civil Chamber of the Supreme Court declared the nullity of mortgage floor clauses in cases where there is a lack of transparency. That is, all those in which sufficient information was not provided to clients when contracting the mortgage. <\/p>\n
In this regard, the Civil Chamber, presided over by His Excellency Juan Antonio Xiol, issued a RULING DATED MAY 9, 2013. This RULING, however, after being issued, was subject, on the one hand, to a request for clarification and, on the other, to an incident of nullity, which were resolved by ORDER of June 3, 2013, and Order of November 6, 2013, respectively. <\/p>\n
The CGPJ press release recalled that STS 2013-05-09 would be mandatory in Spanish courts.<\/p>\n
IN DIEM Lawyers is currently, through its specialized banking law area, carrying out numerous claim actions against most banking entities, with excellent results.<\/p>\n
The IN DIEM Documentation Service, in response to information requests, publishes an excerpt from STS 2013-05-09.<\/p>\n","protected":false},"excerpt":{"rendered":"
Author: IN DIEM Documentation Service. Categories: Banking Law. Mortgage. Floor Clause. Date: March, 2014 As is publicly known, the Plenary Session of the Civil Chamber of the Supreme Court declared the nullity of mortgage floor clauses in cases where there is a lack of transparency. That is, all those in which sufficient information was not… <\/p>\n