Banco Santander pays more than 4 million to the Arrecife City Council to comply with the Swap ruling

Mayor Astrid Pérez took to the plenary session in July the rejection of the allegations made by the financial entity.

October 23 2019 (18:13 WEST)
Banco Santander deposits more than 4 million to the Arrecife City Council to comply with the Swap ruling
Banco Santander deposits more than 4 million to the Arrecife City Council to comply with the Swap ruling

Banco Santander has complied with a final judgment and has proceeded to pay more than 4 million euros to the Arrecife City Council for the declaration of nullity of the so-called Swaps. Last July 15, the mayor of Arrecife, Astrid Pérez, took to the plenary session the rejection of the allegations made by Banco Santander on the Swaps. Since this month of October, the Arrecife City Council has paid this amount into its municipal accounts.

As is known, the Arrecife City Council approved the procedure for the liquidation of the framework agreement for financial operations (CMOF) dated April 15, 2004 (SWAP), signed by the then mayor of Arrecife, María Isabel Déniz (CC) as a consequence of the declaration of nullity of the financial swap contracts, agreed in the plenary session of May 2013, so that Banco Santander would return to the Arrecife City Council the total amount of 3,418,113.61 euros of principal of the debt and 910,197.23 euros corresponding to the default interest, calculated until January 21, 2019.

Astrid Pérez said this Wednesday at a press conference - where she took stock of the 100 days of her new Government group - that the City Council has already received this amount reimbursed by Banco de Santander, which has complied with the final judgment, and the rejection of the allegations of the plenary session last July.

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