Sáez: “We have been providing added value by implementing legal consulting solutions.”
Daniel Sáez, partner in Auren’s commercial and litigation practice in Spain, explains how the legal sector is changing in the country and how technology is helping his firm stay ahead.
LL: What is the most active area in your litigation practice?
Sáez: We have extensive experience in civil, commercial and arbitration proceedings, in the latter case as both arbitrators and lawyers for parties, before the main arbitration courts.
We have accumulated extensive experience in complex procedures challenging agreements adopted by companies, conflicts of a corporate nature, liability of administrators, contractual breaches and disputes over contract compliance, bankruptcy proceedings and class action lawsuits, and in defense of the interests of the financial and banking sector.
What kind of developments have you seen in banking litigation in recent years?
Litigation in the banking sector, in recent years, has gone from being an area in which highly specialized procedural experts were needed, with in-depth technical and practical knowledge of the regulatory and supervisory regulations applicable to financial and investment products, to a sector that is more focused on regulations in the defense of consumers and users, as well as general contracting conditions.
The arrival of so-called “mass lawsuits” by clients and users in the sector has not only brought new firms to the Spanish legal market, it has also created a need among our biggest clients in the financial and banking sector to have more extensive teams of professionals capable of defending their interests on a large scale and in a large number of procedures.
Our firm was not only able to address the needs of our clients and effectively adapt to this new reality, we have also been providing added value by implementing legal consulting solutions that, based on our experience in litigation, allow our clients to make decisions in order to reduce risks or prevent litigious situations.
Litigation in the banking sector has declined considerably compared to previous years. We hope that this downward trend will continue in the coming years, as it will give the sector some legal certainty and allow it to better develop in an increasingly demanding market.
We hope that this downward trend will continue in the coming years, as it will give the sector some legal certainty and allow it to better develop in an increasingly demanding market.
You work with many rural savings banks in Spain. Do they have any particular litigation issues or needs that is distinct from the broader financial sector?
Rural savings banks do not differ substantially from the other financial entities we have been working with in terms of the types of services they require from our firm. However, as financial entities that are very solid and solvent but of smaller size in terms of their network and position in the market, they usually require highly personalized and direct service, which is something we appreciate.
What IT changes or investments have you made recently and how have they helped you work more efficiently?
We have implemented IT tools at a national level that allow us to manage the matters entrusted to us by our clients and collaborate in managing or processing any legal case with any of the professionals who work in the 15 offices that we currently have in Spain in real time.
These technological solutions support our knowledge management efforts and allow us to take advantage of the synergies created by the experiences of our professionals. We also provide our clients with access to these tools so that so that they can be stay up to date on the status of their cases on a daily basis. The current technology allows us to publish reports and statistics on both specific issues and general questions, something that our clients have found extremely useful.
However, we are constantly researching new solutions and applications with the goal of implementing those that we believe add intrinsic value to the service we provide to our clients.
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