"BBS Abogados Asociados Asesores Legales y Tributarios is specialized in all the fields that make up the law of the company."
Lawyers specialized in Swaps
Since 2012 we have obtained favorable sentences.
BBS Abogados Swaps is a pioneer firm in Barcelona and many areas of Spain in processing this type of procedure.
What is a SWAP?
A “Swap” is a complex financial derivative product, according to the Securities Market Law, whose function is the exchange of goods or cash flows between two parties, for a specified period of time. In simple words, in its interest rate modality, it is about setting a fixed percentage by which, in the case of mortgages signed by the client, above this rate, the bank will pay the difference. While, below it, it will be the customer who must bear the costs. For this reason, its name is also “Interest Rate Financial Swap”.
Despite this, depending on the financial institutions, they have had many commercial names, one of the most common being “TYPE COVERAGE”, or “Mortgage Coverage contract”.
The problem of Swaps.
The problem of this financial product was born between the years 2007-2008, when ALL financial and banking entities in the country began to market this product as a safe product of “COVERAGE” of interest rates, without associated costs or expenses. Avoiding entities explaining to clients the high RISKS that the contract had (negative settlements for the client and early cancellation amounts of THOUSANDS OF EUROS).
Can companies claim?
YES. What’s more: companies were the bank customer profile most affected by this product, for which many companies had to pay THOUSANDS OF EUROS, and some have even had to close their doors. Do not confuse the judicial matters of abusive clauses with this financial product, since the applicable law is different. Therefore, it makes no difference whether a company or an individual claims. The level of studies of the person who signed the SWAP is also irrelevant.
What can be requested?
In the claim, the FULL amount paid by the client for this contract, (wrongly) called ‘coverage’, is requested. All this with the legal interests from the payment of the receipt and the legal costs of the Lawyer and Attorney.
Deadlines to claim. It can still be claimed.
The lawsuit is filed in two ways: one of them expires 4 years after the expiration of the Contract, and the other, after 5 years. In Contracts already expired, YOU CAN CLAIM UNTIL OCTOBER 7, 2020.
There is also a doctrinal current that extends the term to claim.
Experience. Pioneer firm in this type of procedure.
At BBS Abogados, we were a pioneer firm in Barcelona and many areas of Spain in processing this type of procedure, when the scope of these products among the general population and many other law firms was not yet known. We got the First Judgment of Catalonia known, and to date we have been processing this type of files for more than 10 years. We know the allegations of all financial entities, we know their defense strategy and as of today we believe that they are matters that we know how to win.
We also have a long experience in appeals before the Supreme Court.
We conduct business throughout the Spanish territory.
We process and have processed matters throughout the Spanish territory.
Implicit Swaps.
To a lesser extent, we know that there are many people affected -entrepreneurs- by the so-called “SWAPS” implicit, which some banks inserted in mortgage loans, or leases with clients.
Contact an expert Swaps Lawyer. At BBS Abogados we can help you recover your investment, consult one of our expert lawyers.
