The senior and subordinated arbitration Bankia
The senior and subordinated arbitration Bankia will give much to talk.
Yesterday I published in Rankia an article on the subject that you can see in the following link.
The question that arises is whether KPMG can be impartial when it comes to accepting and quantify the maximum amount of recovery with arbitration. This is very important: although it is assumed that an arbitrator from the National Institute of Consumption render an arbitral award, it will be subjected to, KPMG decide, whether to admit or reject a request for arbitration process and admit if you recover the maximum amount the investor. Who has more power of decision, KPMG or the referee of INC?
There have been complaints from KPMG to the Madrid Bar Association by the conflict of interest that involves deciding who can apply arbitration and the maximum rate of return on investment while, defender a Bankia in judicial proceedings on senior and subordinated. KPMG has been a defense attorney representing some lawsuits Bankia senior and subordinated against Bankia.
In view of the scandalous the matter, Bankia has decided that lawyers no longer representing KPMG in new demands for senior and subordinated.
Moreover, KPMG, as the office Zunzunegui, titrator was also independent of various emissions senior and subordinated boxes which merged in Bankia.
The consultant you select one who submits to the preferred should be really independent, who has not had previous relationship with Bankia, nor ever could have in the future, and it should not limit the maximum amount of payback. This will favor the neutrality. But the reality is quite different. Fewer and fewer financial institutions, more and more powerful and it is very difficult to find someone, outside of the court that can not be influenced by banks.
Do you know any company, audit, large firm of consulting the political party in the dependency ratio Teng them with banks?