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Bankinter loses appeal against returning clients lost investment

Source: El Pais - Fri 24th Jun 2011

The provincial court of Murcia confirmed a ruling by a lower court which ordered Bankinter to refund one of its clients the sum of 58,000 euro for failing to inform her of the risk involved in investing in Bank of Iceland shares.

A court in Cartagena had originally ruled that the bank should return the full amount of what the plaintiff had originally invested. Bankinter appealed against the decision, but the provincial court ruled that the bank had failed in its duty to disclose all the information stipulated by law.

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