Post by account_disabled on Feb 27, 2024 5:16:06 GMT -5
Taxpayers will also have to take responsibility for the sentences that Bankia suffers for the sale of preferred shares and subordinated debt. Last week the Government decided that the public body Banco Financiero y de Ahorro (BFA), which controls 62% of Bankia, would assume 60% of the cost of the rulings for the entity's listing on the stock market. With thousands of complaints still alive and lost sentences pending appeal and, therefore, pending payment to its clients, Bankia has exhausted the provision of funds that it made in to face the payment of sentences for the preferred shares scam and subordinated debt. As explained by the entity chaired by José Ignacio Goirigolzarri in its report last year, until December Bankia had already consumed of the 246 million euros of the fund that it had reserved to pay the demands for the fraudulent sale of preferred and subordinated debt.
In Bankia provisioned 230 million, which it later increased in by 16 million more to reach million. According to a spokesperson for the entity, a spokesperson for the entity assures ECD , under an agreement signed with BFA in anything that exceeds that amount of 246 million must be taken care of by the Financial and Savings Bank.” In Netherlands WhatsApp Number this way, it will be the taxpayers who will have to face these payments, just as will happen with the processes for Bankia's listing on the stock market . According to the agreement reached last week between BFA and Bankia, the public body will be responsible for paying all sentences once the amount of 312 million euros is exceeded . “The agreement that was signed in with BFA on the preferred ones is the same as the recent one signed on the OPS. Once the 312 million euros are exceeded, BFA pays it. In the case of preferred ones, it is from 246 million ”, they explain from the bank. Lawsuits Although Bankia has not provided the number of complaints it has received or those that are still pending resolution, several law firms that represent numerous affected parties assure that thousands of lawsuits remain to be resolved.
Furthermore, as published in this confidential article, there are many trials that have already been held and with sentences handed down, but those affected by the delays in the courts when processing the executions have not yet been paid .In fact, it was expected that on the 20th this agency would improve its credit rating of the kingdom of Spain, but it did not do so.Each of the 14 companies involved in the project has put on the table the adjustment and the maximum effort that it can assume to complete the work in the shortest possible time. Everything has been written down. Cut the delay in half In a document that ECD has learned about through technicians who have participated in its preparation, the companies have detailed the new calendar that will allow the year of delay to be reduced by almost half. Loading this imbalance on the part of execution that corresponds to Spain, what was previously going to be carried out in one year will be carried out, approximately, in six months.