July 6, 2020

The National Court acquits the excuse of Caixanova for the credit of Rivas – La Provincia

In the facts proven for the National Court there is no trace of the alleged crime of unfair administration that the Anti-Corruption Prosecutor's Office blamedfour former directors of Caixanova charged for the credit of 67.1 million eurosgranted in 2007 to a promoter linked to Copasa for the development of some 700 homes in the town of Rivas-Vaciamadrid.

They asked for four years in prison for Gregorio Gorriarán, José Luis Pego, Domingo González Mera and Julio Fernández Gayoso. Three requested Abanca, personified in the case. "There is no charge that the defendants, either in isolation or acting by mutual agreement, followinga preconceived plan and with abuse of its functionshave acted with the purpose of causing economic damage to Caixanova, "says the court, which acquits the four in the ruling announced today to the parties to which it has had accessLighthouse.

Everything that happened around the loan was credited by the abundant documentation provided and the"detailed and neat statements" of the four defendants, maintain the magistrates, who highlight the absence of contradictions between them and the witnesses in order to rule out the existence of "some kind of pressure, insinuation or action other than the normal procedure" of the former senior officials. The National Court assures that its vision of history is "radically different from that expressed by the various accusations."

One of the keys, according to the court, is the defense that the ownBank of Spain inspectorsthey made the operation, qualified "with a normal risk"; and of the refinancing to which it was submitted on up to two occasions before the default of the interests by the promoter. "It is a management instrument," confirmed two officials of the agency. Experts linked to the financial supervisor did not think the same. But to them the National Court reproaches them, among other issues, that they did not take into account in their reports"the positive factors tending to overcome and lessen the difficulties arisen"during the life of the credit, such as the fact that the appraiser assumed a quick sale of homes.

The ruling also recalls that not only Caixanova suffered losses with the decision to take over the credit through its real estate, Proinova. Also the guarantors were left without about 20 million euros, "losses that would not have occurred if the investors of the operation did not believe in the project".

The change of ownership was, as the defendants and most witnesses insisted,a dation in payment, "very frequent in this type of operationsand consented by the Bank of Spain, "remarks the sentence, which considers" not only that it acted according to the internal regulations of the box without any violation or abuse of any dominant position, but that it tried to reconcile all interests in conflict".


Source link