Spanish banks bounce after court reverses ruling on stamp duty

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MADRID, Nov 6 (Reuters) – Spain’s Supreme Court said on Tuesday that customers and not banks will have to pay for stamp duty on mortgages from now on, reversing a ruling from mid-October and.

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The clauses were ruled illegal by the spanish high court in 2013. At the same time, the court decided that banks should not have to pay back the excess money they received as a result of the floor.

Its shares slammed into reverse and closed 0.22p or more than 34 per cent down at an all-time low of 0.42p after the board admitted to a funding. They have also gone to court in a dispute over.

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