The District Court dismissed the appeal filed by a bank against the judgment of the Court of First Instance number four Totana, declaring the contract void swap interest rate (known as "swap") signed by a company Totana and that bank,
The ruling forces the bank concerned to restore everything from such a contract and pay the applicant EUR 84,531.32 plus subsequent settlements that have been made and the legal interest from the date of their respective offices.
In addition, the entity also condemned to pay the costs of the prosecution.
To the Board demonstrated that "financial product complexity required additional information to the base contract, which did not occur" because "its plain reading, a person outside the financial world can hardly understand the risks of product. "
The judgment also states that the person who subscribed to this contract "thought he was signing a form of insurance that covered a possible rise in Euribor" so you know that "the contract contained a true investment product that implied the risk of winning or losing to the amounts invested. "
Lawyers José David Amoros Martinez Lopez and Pedro Lopez, with professional offices in Murcia Totana and explain that the judgment is considered that there was "vice on the consent of the client hires the product, resulting from the uncertainty of what actually hired and offered by the bank. "
Also, remember that the trial judge described the financial swap contract as "random, complex and speculative" and claimed that "has nothing to do with the insurance contract as it was sold by the bank."
