The National audience has confirmed this Friday as a civil liability subsidiary to Bankia's parent company, BFA, for the alleged irregularities that led Banco de Valencia to bankruptcy. These facts are currently being judged. In a car, the third section of the Criminal Chamber of the National Court rejects a recourse of the State Bar, on behalf of the FROB, and confirms the decision taken by the investigating judge, Santiago Pedraz in January 2018.
The order has the private vote of Judge Antonio Díaz Delgado, a supporter of estimating the appeal of the FROB. In his private opinion, he assures that if BFA is considered as civilian responsible, so will the State. He adds that the latter only participates in the facts investigated by his "need to save the system before a private management that put at risk" the financial stability.
The Bank of Spain intervened in November 2011 the Banco de Valencia, which had more than a century of history, for its delicate solvency and liquidity situation and replaced the entity's management team with personnel from the Fund for Orderly Bank Restructuring (FROB). The objective was to "stabilize it and recapitalize it and thus make possible a subsequent alienation to another entity through a competitive process", as the Bank of Spain said at the time.
The Bank of Valencia it was sold in 2012 to La Caixa for one euro, after receiving public money for an amount of around 6,000 million euros (998 million until May 2012 and 4,500 million in the intervention of the Bank of Spain). Their old managers are being tried in the National Court for alleged unfair administration and misappropriation.
In the contested order, Pedraz considered BFA and the Bancaja Foundation responsible. The FROB filed an appeal alleging "damage" that would be considered to be a subsidiary civil liability. The court now ensures that this is the "only guarantee of compensation for the injured shareholders of the Bank of Valencia." BFA resigned the appeal.
The discrepant magistrate assures that this case "is poorly compatible" with the assumptions in which the State must respond as a subsidiary, since it is not "an abnormal operation of any public service due to the management of the performance of the person rendering or performing a function. of public service, since no person who has managed entities or institutions of the State is imputed. "
The Anticorruption Prosecutor requests four years of imprisonment for Domingo Parra, former CEO of Banco de Valencia, and Alfonso Monferrer, director of the real estate companies. The businessmen Salvador Vila, Juan Soler, Fernando Polanco, his wife, Teresa Villalba, and the notary Carlos Pascual are also accused. Next week the sessions of the oral trial are retaken in the National Court.