4 Reasons not to accept the proposal by the actions of Bankia
In view of the news published on the return of the losses suffered by those affected in the placement of shares of Bankia's public offering news, It can be useful, highlight the pitfalls posed.
We assume that the only direct information we have is the legal analysis of the situation and the "form return application”. Pero los empleados de la entidad se han puesto ya en contacto con algunos clientes por lo cual es bueno sumar criterios, before making a decision that then we can repent.
It is important to emphasize the following ideas:
1.- Bankia does not mention the cost of attorney, lawyers and experts, so that, They shall be paid by the customer, should accept the bank's offer. If you expect to have a final judgment, in most cases, it is condemning Bankia to pay the costs, whereby the client, the claim would not have cost anything.
2.- Bankia offers to pay the 1% of interest, while legal and procedural interests far outweigh. The 1% interest 10.000 euros from the 19.11.2011 to the 18 February 2016 its 459 euros. When a judgment is obtained the legal interest applies from 19.11.2011 to date of the judgment and then the procedural interest (legal interest more 2%) The legal interest of the same amount and period are 1.772 euros (the 4% to 2014, the 3.5% in 2015 and 3% in 2016). The difference is substantial.
3.- There is no assurance that Bankia will actually pay 15 days. Bankia has repeatedly not paid voluntarily relapse sentence in final judgments and I had to require them to pay. If the financial institution does not comply, It would have to open a new process, with corresponding costs and deadlines, to enforce the new agreement.
4.- If the agreement with Bankia is not properly supervised by counsel, You could condemn the customer to pay the costs of the bank: It could be considered as a waiver by the applicant, that under the provisions of Article 396 LEC could lead to the situation where Bankia's lawyers demand it the costs of prosecution and this customer had to pay.
Let's look at the situation with a case:
The Mister. Enrique bought 15.000 OPS euros in shares of Bankia: You have two possibilities:
1) Exercise the option of Bankia: It is said to be paid in 15 days but no one really knows what the actual term will be, to which must be added the difficulties outlined above.
Recover 15.000 euros plus 1% (so far today) 692 euros, and pays his lawyer and court fees, put an initial provision of 1.000 euros plus a percentage for success 10% the amount recovered (1.500 + 21%= 1.815).
15.000+692-1000-1815 = 12.877 euros
2) Continue the process that has opened with the demand and filed:
Recover 15.000 euros plus statutory interest if the sentence was handed down today would 2.658 euros. The bank is ordered to pay the costs (as they would normally be the lawyer and court fees).
15.000+2.658= 17.658 euros
With the option to continue the process that has opened, Mr. Enrique gets 4.781 Please euros su de diferencia (17.658€-12.877€), against the proposed restitution of Bankia.
(*En el cálculo no hemos incluído la restitución de las acciones ni los dividendos).
In view of the numbers and the rest of our considerations, We are recommending to our customers and open and pending resolution or appeal processes:
1.- Go ahead with the process.
2.- Do not sign any documents about, without the prior supervision by counsel.
En el caso de clientes que no hubiesen planteado demanda por las acciones de Bankia, the situation is different and should make an analysis based on the amount, to see if the difference in interest does not cover expenses or attorney and lawyer.
Maybe in a few days, there is more information about the process, but the data we have so far, recomendamos a nuestros clientes seguir adelante con los procesos que ya tienen abiertos para reclamar las pérdidas ocasionadas por la adquisición de Bankia shares.