€ 3,333,618.00 Appeal court ruling.
A superb result at the Appeal Court in Málaga:
10 mortgage loans declared invalid.
14 borrowers that will get their Spanish houses back.
€3,333,618 euros in combined value that will not have to be returned!
The photo reflects tiredness, but also satisfaction and happiness; it's the second successful class action against defunct lender Cheshire-based SLM (Surrenda Link Mortgages) company, an #equityrelease financial institution that gave out tens of millions in speculative mortgage loans, invested mostly in the bankrupt Premier Cash Release Mortgage Fund, a brainchild of fraudulent Isle of Man based The Premier Group.
The Court ruled that a) they operated without a license from the regulator, b) they misrepresented material facts in relation to the risks and c) they employed a network of unqualified financial advisors to sell the product.
This case was defended by Luis González, congratulations!