{"id":12120,"date":"2014-09-14T07:50:37","date_gmt":"2014-09-14T05:50:37","guid":{"rendered":"https:\/\/www.in-diem.com\/abogados\/uncategorized\/banking-preference-shares"},"modified":"2026-03-18T15:20:03","modified_gmt":"2026-03-18T14:20:03","slug":"banking-preference-shares","status":"publish","type":"post","link":"https:\/\/www.in-diem.com\/en\/abogados\/news\/banking-preference-shares","title":{"rendered":"BANKING: Preference Shares"},"content":{"rendered":"<p>Area: Banking Law<\/p>\n<p>CASIMIRO GAL\u00c1N GARRIDO obtains a fully favorable judgment from the PROVINCIAL COURT OF SEVILLE, issued on July 29, 2014, against BARCLAYS in a claim for the sale of preference shares.<\/p>\n<p>The aforementioned JUDGMENT fully upholds the first instance decision, ordering BARCLAYS BANK SA to return all claimed amounts, in this case, \u20ac53,155.53, as well as ordering the banking entity to pay the corresponding legal costs.<\/p>\n<p>The JUDGMENT adopts the thesis of the SAP of MADRID of March 24, 2014, and warns:<br \/>\n\u201cit is evident that if the client, who acquires preference shares, were informed that the credit institution&#8217;s board of directors could discretionally cancel the payment of remuneration when deemed necessary, that such payment would be canceled when the specific requirements established for the financial establishment&#8217;s activity are not met, that the Bank of Spain could demand the cancellation of remuneration payment based on the entity&#8217;s financial situation, that remuneration payment could be replaced by ordinary shares, participating quotas, or capital contributions to the credit institution, and that they are &#8216;perpetual&#8217; in nature\u2014a term truly expressive of what a preference share is and which must necessarily be meticulously explained to the client\u2014it would have been difficult for the defendant entity to raise millions of euros in preference shares, which it later could not honor; preference shares are characterized by uncertainty regarding the repayment of the invested principal, interest payments, and the possibility of selling them, always through secondary markets; these concepts are unattainable for a retiree with no financial information whatsoever\u201d<\/p>\n<p><a href=\"http:\/\/www.in-diem.com\/en\">http:\/\/www.in-diem.com\/<\/a><br \/>\n<a href=\"http:\/\/www.in-diem.com\/casimiro-galan-garrido\/\">http:\/\/www.in-diem.com\/casimiro-galan-garrido\/<\/a><br \/>\n<a href=\"https:\/\/www.facebook.com\/indiemabogados\" target=\"_blank\" rel=\"noopener\">https:\/\/www.facebook.com\/indiemabogados<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Area: Banking Law CASIMIRO GAL\u00c1N GARRIDO obtains a fully favorable judgment from the PROVINCIAL COURT OF SEVILLE, issued on July 29, 2014, against BARCLAYS in a claim for the sale of preference shares. The aforementioned JUDGMENT fully upholds the first instance decision, ordering BARCLAYS BANK SA to return all claimed amounts, in this case, \u20ac53,155.53,&#8230; <\/p>\n<div class=\"clear\"><\/div>\n<p><a href=\"https:\/\/www.in-diem.com\/en\/abogados\/news\/banking-preference-shares\" class=\"excerpt-read-more\">Read More<\/a><\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_joinchat":[],"footnotes":""},"categories":[1196,1194,1195,1302],"tags":[],"class_list":["post-12120","post","type-post","status-publish","format-standard","hentry","category-in-diem-articles","category-news","category-published-works","category-success-stories"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Banking: Preference Shares. 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