Durán & Durán Abogados

About Durán & Durán Abogados

Durán & Durán Abogados is a Spanish firm that focuses much of its activity on claims arising from the purchase of Banco Popular shares, convertible bonds, debt securities and preference shares. The firm presents itself as the first law firm to take legal action against the bank and claims to have obtained two favourable judgments declaring share purchases made in May and June 2017.

Specialisation and results

The firm works with those affected by the resolution of Banco Popular ordered by the EU Single Resolution Board (JUR in Spanish) on 7 June 2017, which resulted in the write-down and cancellation of the shares and the loss of the investment for shareholders and bondholders. According to the firm’s information, it represents more than 1,600 clients and reports a 98% success rate in these types of claims. Among its outstanding cases is a judgment that orders Banco Santander to compensate a company for the acquisition of Banco Popular shares in the secondary market in 2013.

Who it represents

According to the firm, eligible claimants include holders of shares who subscribed to the capital increases of 2012 and 2016, those who bought securities in the secondary market regardless of the date of acquisition, holders of convertible bonds, bonds or preferred shares, as well as any investor affected by the resolution of the bank. The claim is based on the breach of the duties of transparency and information to the investor set out in the Securities Market Law.

Claim process

The procedure begins with the delivery of the bank documentation supporting the investment; an extract of movements from the securities account where the securities were deposited is sufficient. After analyzing it, the lawyers inform the client about the prospects of the case, the approach to the claim and the foreseeable waiting time, and they deliver an engagement letter with the fees and costs of the procedure. Once the documentation is signed and collected, the claim is filed. The firm is in charge of coordinating the execution of a notarised power of attorney for litigation. The average estimated duration from the filing of the claim to the judgment is about a year, although it varies according to the court’s workload.

Offices and contact

The firm coordinates claims across Spain from its headquarters in Madrid, Barcelona, Valencia, Seville and Zaragoza. It offers a free initial consultation and a response within 24 hours via the phone number 900 83 30 20.

The firm can confirm current eligibility criteria, required documents, fees and likely timescales before a claim begins.