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Global business in a changing Europe - 2024

With Parliamentary elections and a series of national votes in 2024, the EU is entering a pivotal period in its history. In this study, ‘Global business in a changing Europe’, we speak to corporate leaders across the world to...more

MiFID Review timeline – the year ahead

A high-level timeline summarising key dates and expected publications for the EU and UK MiFID Review. ...more

8/12/2021  /  Capital Markets , EMIR , EU , MiFID

The strategy behind the success of a takeover bid

Allen & Overy has published, in collaboration with Georgeson, a practical “Guide on the strategy behind the success of a takeover bid”, which provides guidance on managing these types of transactions. ...more

Economic measures in Spain against Covid-19 coronavirus: moratorium on mortgage payment and on duty to file for insolvency

Today it has been published in the Spanish Official Gazette (Boletín Oficial del Estado) Royal decree-law 8/2020, dated 17 March, on urgent and extraordinary measures to fight social and economic impact of Covid-19...more

Mortgage Loan Reference Indexed (IRPH) clauses. The ECJ rules that they are not abusive per se but it puts the ball back in the...

The ECJ issued yesterday its judgement in connection with case C-125/18 regarding the potential abusive nature of a clause governing a floating interest rate indexed to the Mortgage Loan Reference Index (IRPH) included in a...more

The Spanish Supreme Court reviews its criteria on usurious interest rates for revolving credit cards

On 4 March 2020, the Spanish Supreme Court issued a ruling that partially reviews its previous position regarding the usurious interest rates for revolving credit cards. In particular, in judgement 149/2020, the Supreme Court...more

New remuneration regime for renewable energy production in Spain

Introduction - After months of uncertainty, on 24 November 2019, Royal Decree-law 17/2019 (RDL 17/2019) setting out the rate of "reasonable return" for the purposes of the specific remuneration regime for generation of...more

Spanish Supreme Court position on the effects of nullity of early termination clauses

On 11 September, the Spanish Supreme Court, in a plenary meeting, has issued ruling number 463/2019, stating its criteria on the effects of nullity of early termination clauses included in consumer mortgage loan agreements....more

Report of the General Advocate of the European Court of Justice (ECJ) on a Mortgage Loan Reference Index (IRPH) litigation

General background of the dispute in the main proceeding - In the context of a claim of a consumer against a Spanish bank regarding the potential unfair nature of a IRPH indexed floating interest rate clause, the First...more

The new Real Estate Credit Act: lukewarm protection for borrowers and strong impact on lenders

On 21 February 2019, the Spanish Congress passed the Act 5/2019, regulating real estate credit (the Act), after a long and "tortuous" legislative process. The final text of the Act has been published in the Spanish Official...more

3/19/2019  /  Borrowers , EU , Lenders , Mortgages

Changes To The Securitisation Regime In Spain Under Law 5/2015

Law 5/2015, dated 27 April, for the promotion of business financing (Law 5/2015), has introduced important changes in the legal regime of securitisation in Spain....more

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