Tag: European Court of Justice

European Court of Justice Rules Against France in Airbnb Case

3 January 2020 – The European Court of Justice has ruled that Airbnb cannot be considered a real estate agency. Therefore, the firm may not be governed under the corresponding regulations. The court determined that the platform should be treated as a data services company since it does not set any rental prices.

The Court added that Airbnb’s activity fell within the scope of the 2000 Directive on e-commerce and ruled that France, which had originally filed the petition, may not require the firm to obtain licensing as a real estate agency.

El Tribunal de Justicia de la Unión Europea ha sentenciado que Airbnb no puede ser considerado una inmobiliaria y, por lo tanto, no puede ser regido según las regulaciones correspondientes. El tribunal determinó que debe tratar la plataforma como una empresa de servicios de datos, ya que no establece ningún precio de alquiler.

El Tribunal agregó que la actividad de Airbnb estaba dentro del alcance de la Directiva 2000 sobre comercio electrónico y dictaminó que Francia, que originalmente había presentado la petición, no puede exigir a la empresa que obtenga una licencia como inmobiliaria.

Original Story: Preferente.com

Translation/Summary: Richard D. Turner

Large Funds Get Involved in Popular’s Criminal Lawsuit

31 January 2018 – Expansión

The large funds Pimco, Anchorage, Algebris and Cairn are participating in the criminal case that the Spanish High Court is investigating against the former directors of Popular.

These funds, which lost almost €850 million following the resolution of the bank, have appealed the resolution decision taken by the Single Resolution Board (JUR) before the European Court of Justice and the resolution of the Frob before the Spanish High Court. Specifically, Anchorage, Algebris and Ronit have appealed to the European Court of Justice and Pimco, Anchorage, Algebris, Ronit and Cairn have appealed to the Spanish High Court.

On 4 October 2017, judge Fernando Andreu admitted for processing the first lawsuits against the former directors of Popular and PwC. Most of them are focused on the capital increase made in 2016 and against Ángel Ron and his Board for improper management, falsification of documents and misappropriation. Lawsuits have also been filed against Emilio Saracho and the management of the most recent executive team.

The debtholders are being represented in Spain by Andersen Tax & Legal and SLJ Abogados and in the EU by Quinn Emanuel.

Richard East, Managing Partner at Quinn Emanuel, explains: “The plaintiffs filed serious accusations that the Spanish High Court has agreed to investigate. The funds want to be informed and to collaborate in this investigation to determine the existence of falsehoods in the process”.

Original story: Expansión (by Mercedes Serraller)

Translation: Carmel Drake