Euribor cartel lawyers

Information about the Euribor manipulation cartel involving seven banks, which affects the interest rates on financial products. Court claims.

Madrid office: C/ Alcalá 209, bajo C 28028 Madrid Tel. +34 911 923 480 Email: administracion@escaleratuset.com

1. What is the Euribor cartel?

On 30 June 2017 and 8 April 2019, summaries of the Commission Decisions of 4 December 2013 and 7 December 2016 respectively were published in the Official Journal of the European Union, imposing various fines on seven European banks for infringing competition law by forming a cartel in the sector of euro interest rate derivatives linked to the euro interbank offered rate (Euribor) or to the euro overnight index average (Eonia).

The manipulation of Euribor consisted of deliberately altering that reference rate between 29 September 2005 and 30 May 2008, which meant higher instalments on every product linked to Euribor, whether or not it has since been repaid.

That opens up a route to a court claim for those who held a product linked to Euribor during that period, seeking damages against the infringing banks for the unlawful agreement, which caused them financial loss by making them pay more than they should have had the cartel not existed.

2. Which banks were the infringers?

3. Who is the claim brought against?

4. Which financial products can be affected?

Wherever the product is linked to Euribor, the following may be affected:

5. Who can claim?

Any individual or company that took out and held a product linked to Euribor affected during that period. That means:

6. What does the court procedure involve?

7. What documents are needed?

8. What does the claim cover and what does it cost?

Acoreo and Escalera & Tuset take on the whole process and the full court claim. Our main advantage is that we calculate the individual amount according to your product, as well as the expert report for the claim.

We have the experience and the capacity across the whole of Spain to obtain a favourable result.

Our fees are reasonable and competitive and are set according to the amount claimed, after assessing the calculation of that amount, and are set out in an engagement letter signed with the member or client covering all the costs.

If you are interested, would like further information or are one of those affected, get in touch with this firm and we will tell you more:

The terms of engagement for these professional services are on the association's website, www.acoreo.org. You can also consult those of the collaborating firm: www.escaleratuset.com

The Euribor manipulation cartel

Between 2005 and 2008, several financial institutions took part in a cartel dedicated to manipulating interbank interest rates, particularly Euribor, which determines what individuals and companies pay in interest on any kind of credit. That is what is known as the Euribor cartel.

A Euribor manipulation cartel involving JPMorgan Chase, HSBC, Crédit Agricole, Barclays, Deutsche Bank, RBS and Société Générale. The European Commission imposed very substantial fines on them, but the question is: can individuals and companies claim back the excess they paid because Euribor was manipulated?

Euribor cartel lawyers

The reality is that they can. A good many courts are taking the view that the manipulation of Euribor between 2005 and 2008 caused financial harm not only to large companies but also to individuals. Specifically, Commercial Court number 1 in Seville recognised the right to compensation of a Barclays customer. With the right advice, you can recover money you should never have lost.

Specifically, the banks that took part in manipulating interbank Euribor have to work out the Euribor they should have charged and return the amounts you overpaid. Would you like to set that process in motion? Would you like the money you were overcharged back in your pocket? Call us right now so that we can get to work on your case. We are a firm specialising in claims against banks. We are here.

The Euribor cartel

And not only specialising in claims against banks in general. Since the OpEuribor group published the judgment of Commercial Court number 1 in Seville, a great many people have decided to bring a court claim over the Euribor cartel. And a good share of them have put their trust in us to represent them and take the necessary steps on their behalf. That experience has given us a deep understanding of the subject.

Understanding that lets us avoid wasting your time. We know how valuable it is. That is why we always carry out a detailed investigation of each case. That way we can tell whether you really are one of those affected by Euribor with a chance of receiving compensation. If you are, we set the necessary steps in motion to claim it. We stay with you and guide you through the whole process so that you never feel lost. Always beside you.

Those affected by Euribor

Claims over the manipulation of the Euribor rate have grown to the point that we have become genuine experts on the subject. That is what has made us a reference point on the question.

At Escalera & Tuset you will not be working with general practitioners. On the contrary, your case will be guided and run by one of our Euribor cartel lawyers, specialists who have spent years working on this matter. Experience is key. It makes an enormous difference.

The advantage our firm offers is an expert report prepared by distinguished professors on the problem of the Euribor cartel.

Court claims over the Euribor cartel

At Escalera & Tuset we want you to get your money back. That is why we set every necessary procedure in motion and see it through to the end. We do not only bring an out-of-court claim over the Euribor cartel; we also represent you in any litigation that may be needed.

At Escalera & Tuset we also want to give you the peace of mind you deserve. You will only have to pay our fees if you win. And in many cases the judge may even order the bank to bear them. Call us now. Your Euribor cartel experts.

A free calculation of the amount to claim. Escalera & Tuset Abogados works out the amount to be claimed entirely free of charge.

Once we have given you that free calculation, we would go ahead and file the claim against the banks that took part in the cartel (not the bank you have your loan with)