Catalunya Banc rejects out of claims despite receiving million 

It earne 500 million and has provide 200 more to face legal claims from those affect Catalunya Banc Office. Catalunya Banc Office. 5 Catalunya Banc rejects chaire by José Carlos Pla and controlle by the State, has been the toughest of the three nationalize banks when it comes to making it easier for retail investors who bought preferr to recover their money. It has rejecte of the claims, compare to 24% for Bankia (more than 180,000 requests) and 33% for Novagalicia Banco, already sold to a Venezuelan group. The Catalan entity receive more than 12,000 million euros in public aid to avoid bankruptcy, the Government has already publicly hinte that it will be difficult for the State to recover all that money with its sale.

In March the entity opened a new

to decide what to do with the 29 applications pending analysis. In this way, Catalunya Banc only leaves the court route for the more than 40,000 affecte people who have been rejecte. “Most of the trials are being won the scamm , more than 90%, so it is just a  New Zealand Mobile Number List way to save time . Although each case , the normal thing is that the bank ends up losing,” they say from a law firm that is an expert in lawsuits for these products. Profits of 532 million Catalunya Banc is in the middle of the sale process, and it is therefore normal for the buyer to inherit this problem . The entity assures in its annual financial report sent to the CNMV that it has provisione million euros to face the possible effects of the pending lawsuits in relation to the preferre ones.

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The reason for this change comes in part

The capital gains obtaine for the exchange of the preferre ones and the reduction impose by Brussels. There are no more payments . The reason given by the Catalan bank for rejecting the claims of the preference holders is that it does not have the financial solvency to face more USA Phone Number List payments . The consulting firm commissione by Catalunya Banc to manage the arbitrations was Ernst & Young. According to a letter sent by this company to one of those affect , reveale by the newspaper El País , the bank automatically rejecte all arbitration requests from investors that euros due to this lack of solvency. “Although it breaks all the rules impose by the FROB for this type of process, the fact that in the bank lost almost million euros could justify it .

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