A Barcelona company recovers 200,000 euros that it invested in Banco Popular shares

From Vallverdú Abogados they tell us that the Court of First Instance No. 47 of Barcelona has issued a judgment that estimates the liability for damages of Banco Popular. In addition, it condemns Banco Santander to return 200,892.61 euros to a company in Barcelona. The company had acquired the shares after the 2016 capital increase.

In the sentence, the judge concludes that: “(…) The flight of deposits could certainly precipitate the drastic decision of the JUR executed by the FROB, (…) this flight of deposits appears not as the cause, but as the consequence of the lack of veracity of the bank accounts, that they concealed the unviability of the entity, which was the one that led to its realization having to be undertaken. (…) Banco Popular continued to deny the situation that would lead to its resolution and sale for one euro, in June 2017. Consequently, it is appropriate to estimate the claim for the defendant having breached its obligations established in the LMV ”.

For Rubén Cueto, managing partner of Vallverdú Abogados: “The sentence perfectly gathers the merits of the matter and questions how it is possible that in less than a year since the capital increase, a resolution of Banco Popular was produced being sold to Banco Santander for 1 euro. We are happy that someone affected by Banco Popular recovers the savings he had invested based on the trust placed in an entity that conveyed a totally distorted image of its financial reality “.

Photo: El Confidencial

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