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Law in Spain

Law in Spain is a dedicated Blog to advise British Expats living in Spain about their legal issues through the expertise of Abad Abogados lawyers. The main purpose of this blog is helping Expats to find useful and updated legal tips to deal with Spanish Bureaucracy.

22 December 2016 @ 11:24

The EU Court of Justice ruled on the 21st December 2016 in respect of floor clauses (Cláusulas suelo): Spanish banks will have to return to customers the total amount of what they received in relation to floor clauses.

The Spanish Supreme Court, in the famous 2013 judgment on floor clauses, ruled against the banks, but limited the compensation to May 2013, due to the country's then financial situation.

However, as of today, all amounts irregularly paid since the signing of the contract can be claimed back The judges of the EU Court of Justice considered that "the judicial declaration of the abusive nature of a clause should have the effect of restoring the situation in which the consumer would be found in the absence of such a clause." Those affected by floor clauses cannot be limited in time.

This is a huge blow for banks, since they must now decide what to do with the claims that they will receive. Although some entities consider that the amount is lower, the Bank of Spain indicated in a report that the financial institutions will have to pay around 4,200 million euros.

In the event that a claim against an entity is unsuccessful, it must be taken to court.

For more information, you can contact “Abad & Asociados”:


Like 1


chesterpants said:
30 December 2016 @ 15:49

So, what happens next?

Will the banks (Unicaja for us), do the decent thing and write to the customers they've been ripping off since 2009, or will we still have to continue down the legal route?

AbadAbogados said:
09 January 2017 @ 13:56

Dear Chesterpants

Thank you for your comment.

At the moment we are waiting on a decision to be made as to what the Government will oblige banks to do in these cases and we are hoping that by the end of this week we should know the answer and will be able to update you.

Kind regards

chesterpants said:
12 January 2017 @ 15:00

Many thanks. This has really gone on far too long.

chesterpants said:
16 January 2017 @ 22:37

Is this actually feasible that Spanish banks can a) wriggle out of their obligations and b) any reimbursement to borrowers is subject to tax?

Somebody please tell me this cannot be correct. What kind of bottom feeding scumb are we dealing with here? If this proves true then our property goes on the market and I'll never return to Spain again. Ever.

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