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An elderly man from Lorca, defended by Unive Abogados, recovers a little more than 6,000 euros invested in participatory installments of the CAM in 2008 The Magistrate who has heard the matter states that "the actor is a very old person who was not interested in buying the product, but it was the bank who called him by phone and offered him the same when the plaintiff had his savings in that entity ", and he continues affirming that the client is not an investor, in addition" he does not know the difference between a fixed term and variable income, very basic concepts, that he did not read ...

because he hardly knows how to read, and that he signed what they told him in the bank that will sign.

" As they are retail clients, explains the head of the court throughout almost thirty pages of sentence, the entities must behave with diligence and transparency in the interest of their clients, taking care of their interests as if they were their own, and, in particular , observing the norms established in the Stock Market Law. The reality is quite different, the neighbor of Lorca, who after losing all his savings decided to take legal action to fight to recover them, stated that "he was informed that it was a profitable product and that he was not informed of the risks" and of the Evidence in the file does not show that the convenience test was performed, or any other.

Yes, it was proven that it was the bank that approached the actor offering him the product, so an advisory service was provided, and the entity has not denied it either, which leads the Honorable Member to affirm that "analyzed the evidence in conscience , there is no doubt that the defendant did not fulfill its reporting obligations, in breach of banking transparency and information regulations, omitting information on essential elements of the contract "and it concludes that "the entity caused a clear error in the plaintiff" who, without knowing how to read, signed what the entity's employee, a person he trusted, indicated to him. In conclusion, "the lack of sufficient information about the product offered and the risks thereof, allow us to presume the existence of a defect in the consent, a presumption that has not been distorted by the evidence practiced because the total absence of evidence regarding the information provided "has led the Magistrate to declare the nullity of the contract for the purchase of quotas of the defunct CAM, for which the client has seen all his claims estimated, and Sabadell has been sentenced to reimburse the investment with his interests, reducing the dividends received, and the payment of the costs of the procedure. That same court has ruled on another similar claim from a client, a native of Lorca and defended by the same firm, which had invested just over 2,900 euros in the same product -Cam Participatory Fees-, giving the reason to the client, and condemning Sabadell to pay the costs and reimburse the investment with its interests, an amount that must be reduced with the dividends received. Those affected by the acquisition of participative quotas are still in time to claim the damages suffered by their improper commercialization, although Unive Abogados warns that the term expires at the end of this year 2020, although it could vary depending on the definitive duration.

of the declared state of alarm, in which the statute of limitations has been suspended. Unive Lawyers Unive Abogados is a multidisciplinary firm that has fifteen offices that provide service throughout the national territory.

It is one of the reference firms in various sectors, such as banking, RGPD or public law, reaping significant successes for its clients throughout its almost fifteen years of activity.

Source: Unive Abogados