Alentta achieves it once more: New nullity of a swap because of informational defects
On January 21, 2019, the Sixth Section of the Provincial Court of Valencia has issued a sentence that is already firm, by which the lawsuit filed by one of our main clients, an important company belonging to the education sector, is estimated. The sentence declares the nullity of a financial swap contract, which years ago had been signed with an important financial institution of our country.
As a result of said sentence, the Bank will have to return to our client all the liquidations practiced during the five years of validity of the contract for an amount of more than 200,000.00 euros, adding also the legal interests from their respective charges in account.
From Alentta Abogados, contrary to the arguments put forward by financial institutions, we have always defended that the fact of being an entrepreneur or administrator of a company or the high turnover of such company, do not mean to have specific knowledge in investment and complex financial products, as has been established by the consolidated jurisprudence of the Supreme Court in this matter.