ECJ To Hear Spanish Bank Dispute Over Unfair Loan Terms

Law360, London (April 29, 2019, 6:14 PM BST) -- A Spanish court has asked the European Court of Justice to clarify the extent to which the EU directive on unfair terms in consumer contracts applies to a dispute between Ibercaja Bank SA and two individuals.

Audencia Provincial de Zaragoza has referred 13 questions to the ECJ for a preliminary ruling, including whether a so-called floor clause amendment in an agreement signed between the bank and the two individuals identified only as “TJ” and “UK” should be classified as a standard condition of contract.

Also at issue is the terms of a waiver of the right to take legal action against...

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