It has been a true pleasure to attend the annual meeting of the Ally Law Association, held this year in the beautiful city of Buenos Aires. It was, as always, an enriching event that strengthens the collaboration and sense of community among member firms. We would like to thank you for the excellent organization of… Continue reading Ally Law anual meeting in Buenos Aires
Author: Jordi Alimany
Limitations on Tourist Licenses
On July 24th, the Spanish Government submitted a legislative amendment to the Congress of Deputies with the aim of limiting the proliferation of tourist licenses. The amendment will not have retroactive effects and will not impact on tourist flats already in operation. The Government’s aim is to limit the impact that the excessive number of… Continue reading Limitations on Tourist Licenses
The Supreme Court repeals the municipal tax on empty housing
The Supreme Court establishes jurisprudence by issuing a judgment which has repealed the taxes applied to empty flats by the Badalona Town Hall because they are considered “irregular” and even “arbitrary”. The Badalona Town Hall unanimously agreed to impose a tax on those empty flats owned by banks and real estate investment funds. The Supreme… Continue reading The Supreme Court repeals the municipal tax on empty housing
The Supreme Court declares that the interest rate on revolving credit cards constitutes usury
The Supreme Court has issued a ruling indicating that interest rates which are higher than 20% for deferred payment on revolving credit cards constitutes usury. This interest rate on revolving credit cards is considered by the Supreme Court to be disproportionate. The rate reaches 27% on occasion, and this is far and above what may… Continue reading The Supreme Court declares that the interest rate on revolving credit cards constitutes usury
Financial compensation for non-material damages in Spain
Legal doctrine and jurisprudence in Spain assume that financial compensation for damage must be all-inclusive and, therefore, compensation should not only include material damages but also non-material damages. Therefore, based on the general principle of the Spanish system, “restitutio in integrum”, there is consensus both on the part of the doctrine and jurisprudence when defining… Continue reading Financial compensation for non-material damages in Spain
New law on mortgage loans
Law 5/2019 enacted on March 15th was published in the B.O.E. on March 16th regulating mortgage loans. It will serve to give greater protection to customers from banks and financial institutions. There is a transition period of three months to give banks enough time to adapt to this law. Therefore, it will not enter into… Continue reading New law on mortgage loans