In this case, it was ultimately the bank which was condemned for having failed in its obligations to safeguard the funds.
The Spanish Supreme Court has condemned the bank Banco Sabadell for failing to fulfill its obligations to safeguard the funds of a client declared vulnerable due to a handicaprelate 3/24. According to the judgment rendered by the highest court in the country, the bank authorized a father to use his son’s money to pay off a debt that he had contracted with the same entity.
The boy, after suffering a road accidentreceived thene compensation of almost 700,000 euros. Due to his dependency and disability situation, he was declared unfit to manage his assets and placed under the authority of his parents.
320,000 euros used to replenish the coffers of his company
The father owned, with other partners, a company that worked with the Banco Guipuzcoano bank (a subsidiary of Banco Sabadell). It is also in this bank that the parents opened an account to deposit their son’s compensation.
Later, the father’s business went bankrupt and the father used 320,000 euros from this account to honor the loans agreed by Banco Guipuzcoano.
The father and the bank both equally responsible
The first and second instance judgments ruled in favor of the bank, finding that the father did not need judicial authorization to transfer money from his son’s account to his own, and that the bank could therefore not be condemned for not having demanded it.
But a ruling from the civil court of the Spanish Supreme Court finally ruled in favor of the appeal filed against these previous decisions.
The company of which the father was a partner having already been condemned, the new conviction of the bank means that the two companies are equally responsible for the restitution of the 320,000 euros.
