In recent times, the field of banking law and the irregularities committed by the banks has undergone exponential growth, leading to an abundance of proceedings in which we have acted, making claims against various banking institutions’ wrongful marketing of investment products, as well as the inclusion of abusive clauses in their contracts.
a) Fraudulent share and subordinated debt issues and other investment products.
With the recession a large number of bad banking practices have come to light, amongst which are the marketing of fraudulent shares, subordinated share issues and other investment products aimed at individuals, without offering them adequate information about the risks involved in these types of transactions.
At COLORADO & DE ROA ADVOCATS we have built up a wide experience defending the interests of clients affected by these types of practices, with a high percentage of success in legal proceedings aimed at claiming for amounts lost by holders of these types of products.
b) Mortgages and unfair terms
In the past few years mortgage contracts have led to a large number of legal proceedings. Our practice has wide experience in legal claims resulting from mortgages with “floor clauses” and, generally, from the inclusion of abusive clauses in these types of contracts
The housing bubble led to individual clients taking out multi-currency mortgage loans and who, in many cases, were not duly warned or informed of their risks. With the arrival of the recession, there are now a large number of people affected by this type of mortgage who now have the opportunity to exercise their rights against the banking institutions, and claim for the losses suffered due to the lack of information at the time of establishing these contracts.
Furthermore, recent legislation concerning the misuse of mortgage clauses, originating in the European Union, has increased the possibility of defending against proceedings of mortgage foreclosures and in many other related aspects in the enforcement of banking contracts.
The new regulations, more protective towards the consumers, have opened up a range of possibilities to clients involved in legal proceedings initiated by the banking institutions, primarily in mortgage foreclosures and financial claims.