ITALY: First judgement against Barclays

Posted on 13/03/2017 · Posted in Italy, Judgements

Mortgage trap, GOODBYE!

It’s since some time that we hear about TUCONFIN and its fight against the mortgage in EUR indexed in CHF issued by Barclays Bank Plc …
The fight involves almost 10,000 families trapped by a product that has been detected as dangerous as a bad investment in the stock market. In practice, the borrowed capital on the paper was communicated to the borrower in Euros ONLY, while in reality was and is a capital in CHF from the devastating effects on the economy of the families.
The TUCONFIN Association denounced in all locations, civil, criminal, administrative, political and media situation, stressing this aspect as it was dangerous and toxic.
Thanks to the awareness and information campaign, which started in 2011, thanks to the work of Franca Berno, now president, and Sheila Meneghetti, vice president, has allowed many to find the courage to face, even individually, “the British giant”.
Tenacity and conviction of being in the reason they never stops and so today, thanks to a very special team, allowed certain borrowers to obtain justice, have managed to create an information network that each individual borrower, not being directly connected to them, gets able to retrieve all the information useful to the common struggle.

And that’s before the Banking and Financial Arbitrator and then now in the classrooms of the Court will be full right to borrowers harmed.

Already the Court of Milan – with the judge dr. Silvia Brat – the order N.R.G. 2015/47185, she had declared that such mortgage lacked transparency recognizing the contract with the art. The paragraph 35 of the Consumer Code.

But in fact had not yet arrived a conviction, arrived, however, a few days ago, thanks to the Ordinance N.R.G. 44182/2015 of 01.03.2017 issued by Judge Caterina Silavana Ceredigion Court of Rome with which he puts it, finally, a full stop to the issue.

The order, underlined the importance of ABF decisions, and the consequent failure of the bank to the above, invalidates the article on currency revaluation to be applied in the event of termination due to lack of transparency and therefore condemns Barclays Bank Plc to returning when improperly paid by the borrower (with lots of interests), the payment of a sum in recognition of the damage for aggravated responsibility and of reimbursement of all legal fees incurred up to today.

We thank Messrs A. V. and E. F. C. and the lawyer. M. Eoli for continuing the fight.