News Blog

Floor clause

The Supreme Court has to submit to the dictation of the Court of Justice’s Judgement of the European Union and the mandatory application of the state regulations’ provisions. More specifically in the Civil Code, in respect to the effects of the floor clause’s nullity.
Thus, it has been recently condemned a financial institution, BBVA, to return the amount charged for one of these clauses, considered abusive throughout the loan’s life.

The STS of the 9th of May 2013, declared the nullity of the Floor Clause, considering them abusive, and forcing to return the amounts charged but only from the date of the declaration itself onwards, in order to protect the banks from the impact of returns.
Well, the CJEU annulled this sentence and condemned the application of Article 1303 Cc and consequently to the refund of all the unduly charges for the application of the floor clause in the past.
On the other hand, the month granted by the Royal Decree Law approved by the government, for financial institutions to organize their extrajudicial floor clause claim services is almost over.
Given that the legal text, far from protecting consumers, has left in the hands of financial institutions the origin amounts that need to be refunded, we highly recommend you to request economic and legal advice from professionals for these claims. Thus, you will be able to avoid imposing an agreement contrary to your own interests, once you have received a response from the financial institution in relation to your case.
If you have paid the municipal tax in the last five years, do not hesitate to contact us. We put our extensive experience at your disposal as well as the best professionals.