SEAIN, SLP, as an economist and law Firm specialized in Banking and Financial Law, has initiated numerous legal proceedings against banks located in Spain, claiming the corresponding damages to those affected by the unfair terms of their financing agreements (financial swaps, Land clauses, mortgages, preference shares and others).

The recent judgment of the Court of Justice of the European Union in Luxembourg ruled that it would be impossible to limit the retroactivity of the overpayment by banks in application of the floor clause to May 2013 (Date on which the first Judgment of the Supreme Court was issued in this case), considering that such limitation is contrary to Community Law. In practice, this decision implies recognition of such retroactivity since the signing of the contract.

This Firm is getting Judgments that grant our clients the refund of the excess paid to the financial institution from the signing of the initial contract in application of one with total retroactivity.

SEAIN S.L.P. works in the defense and advice to all those affected by the abusive and unfair clauses in their banking contracting, aiming denouncing this bad-practice, claiming damages caused unfairly to both individuals and companies.

In both cases of “ground clauses” as well as in the matter of refund expenses for the constitution of mortgages and other unfair terms, SEAIN S.L.P. will advise all interested parties, examining the pertinent documentation and communicating the different alternatives of recovery in case the right assists.