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Del Canto Chambers Monthly Summary: From the Gulf to Spain through London

July has been a very active month at Del Canto Chambers with a lot of activity in the main jurisdictions we are present —United Kingdom, Spain and Qatar.

During the visit of the King of Spain Felipe VI to the UK, The London School of Economics and Political Science together the Spanish leading newspaper “El Pais” launched The Observatory of the Spanish-speaking World. The presentation took place on July 12th with relevant academic figures, such as the historian and Hispanist Paul Preston and Julio Crespo MacLennan, historian and Director of Instituto Cervantes in London, and Fernando Del Canto as Adviser to The Observatory.

In Spain, we have participated in the event “Ten years of economic relations Spain-Arab countries: balance and future“ organized by Casa Arabe on the occasion of its tenth anniversary. Highlighted in this event were the increase of projects carried out and the greater presence of Spanish companies and professionals in countries like Morocco, Algeria, Saudi Arabia, the United Arab Emirates and Egypt.

Likewise, Fernando Del Canto moderated the roundtable “Challenges of the Arab city in transition“, as part of the Casa Árabe Summer Course “Diplomacy of the cities” organized by the Diplomatic School of the Spanish Ministry of Foreign Affairs, about the problems and the future of the Arab city, between urbicide and sustainability.

My article on the position of the Islamic Finances in Spain was well recieved. In the article I explained how Fundación IE and Casa Árabe created the Observatory for the Spanish Finance in Spain that introduced the Annual report of Islamic Finance in Spain 2017. With no doubt this financial segment is experiencing a global growth.

In the sports media sector I attended the Tribute Dinner in honor of all the Spanish Olympic medallists. This event in Barcelona marked the 50th Anniversary of the Spanish sports newspaper Diario AS.

We have continued reporting on the Gulf Crisis and Qatar blockage, and shared the opinion of the Arab media on these matters, such as Al Jazeera and The Peninsula, as well as the BBC. See latest news on Qatari Foreign Minister H E Sheikh Mohammed bin Abdulrahman Al Thani strongly stated that “This crisis can only be resolved through dialogue based on the principles of mutual respect and the sovereignty of states, in accordance with the provisions of international law, and the State of Qatar is ready to discuss all the demands presented by the four countries and their evidence based on these grounds”.

Britons with bank claims for overpaid interests on their mortgages continues being a primary focus for us. Laia Fernández Bernalte published an article on how The Spanish courts are collapsing due to the large number of #FloorClause claims placed, and even though the procedures may be long, we will not give up on our efforts.”

In that article we explained how banks have suffered a legal setback, since the ruling of the Supreme Court by which banks are forced to pay the costs of those floor clause trials they lost. On the other hand, more and more cases are won for claims of expenses paid for mortgage granting (notary, registry, appraisal and management fees).

Seeing the doubts many Britons still have about mortgage claims, our banking teamh ave written a guide with the Eleven most Common Asked Questions around Spanish floor clauses.
It is clear that from now on banks will have to explain better their mortgages.

Since it is just a matter of time that UK expats in Spain receive a notification from the Spanish Tax Office claiming unpaid non resident taxes for the last four tax years, we have written an article on this subject entitled “Owning Property in Spain is Taxing, regardless of your tax residency and position.”

August is a major holiday period, therefore, we want to take this opportunity to wish a happy holiday season to those of you enjoying your vacation period. We look forward to continue being in touch through our blog and social media postings.

Xavier Nova
Managing Partner at Del Canto Chambers