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[SITUATION] · [ACTIVE] · [BUSINESS]

2 clusters · 10 sources · 17 days · First seen · Last updated

Santander-AXA PPI litigation dispute

Overview

The Court of Appeal of England and Wales has ruled in favor of Banco Santander, overturning a prior decision that mandated the bank pay approximately £677 million to AXA. The dispute involves Payment Protection Insurance (PPI) policies issued before 2005, which AXA France acquired from Genworth Financial in 2015.

Following the appellate ruling, Santander stated that AXA must reimburse the majority of the funds previously paid out after a July 2025 commercial court decision, which included £515 million in principal and £162 million in interest. The new ruling is expected to significantly reduce the financial impact on the bank.

Entities

ING · Genworth Financial · Supreme Court of Spain · Cofidis · AXA

Timeline

  1. [BUSINESS] 2 sources
    Spanish courts rule against banks in consumer protection cases

    Spanish courts rule in favor of consumers: the Supreme Court orders Cofidis to compensate a client for improper credit listing, while Madrid judges mandate ING refund 35,000 euros lost to a phishing scam.

  2. [BUSINESS] 8 sources
    Santander wins UK appeal against £677 million PPI payment to AXA

    The UK Court of Appeal ruled in favor of Banco Santander, overturning a previous order to pay £677 million to AXA regarding Payment Protection Insurance (PPI) disputes.

Sources

cronicadecantabria.com · eldiario.es · expansion.com · lacronicabadajoz.com · laopinioncoruna.es · lasemainedansleboulonnais.fr · moncloa.com · ocio.diarioinformacion.com · ocio.farodevigo.es · web.eldia.es