Mortgage enforcement proceedings in Spain in the aftermath of the European Court of Justice 9ECJ ‘judgment of the evicted’

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The ECJ judgment of 14 March 2013 (C-415/11) ruled that certain provisions of Spanish law do not comply with the Unfair Terms in Consumer Contracts Directive 93/13/EC. As a result of the judgment, enforcement of securities against consumer borrowers will be more difficult. Although the consequences are yet to be understood in full, the decision is likely to affect all banks granting loans to consumers, and also hedge funds investing in mortgages in Spain…

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