Arbitration

The senior and subordinated arbitration Bankia

abogado arbitraje preferentes subordinadas bankia

 

 

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?

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The arbitration in challenging social arrangements

abogado valencia arbitraje

 

 

 

 

The arbitration in challenging social arrangements

The arbitration agreements contesting social can be a way of resolving the conflict faster and more convenient to go to court.

The arbitration is governed by the law 60/2003 Arbitration, amended by Law 11/2011.

The parties may submit voluntarily to the award of one or more referees.

To submit to arbitration, may be provided on the statutes subsequently agreed by the contract between the parties or in an social pact. If you are in the statutes, will be enrolled in the RM and bind all partners. If the submission agreement is extraestatutario, only requires the signatories and their successors, but not society, or other partners or third.

The arbitration agreement can define the type of disputes submitted to arbitration: all disputes can be generally affecting corporate life or only some of them. In any case, must be in written.

Attached is the following example of arbitration clause:

"All the controversy corporate nature of conflict, between the company and partners, between the management bodies of the company, configuration whatever statutory and partners or between any of the above, be finally settled by arbitration in law by one or more arbitrators, in the framework of the Spanish Court of Arbitration of the Superior Council of Chambers of Commerce, Industry and Navigation of Spain, in accordance with its Rules and Regulations, to which is entrusted the administration of the arbitration and the appointment of the arbitrator or of the arbitral tribunal. "

The effects of final arbitration award are identical to the "res judicata”: The final arbitration award is subject to enforcement, like a judgment. However, not sign arbitration awards can not be executed provisionally.

On the other hand, it is possible the application of precautionary measures to ensure compliance of the judgment. Precautionary measures must be requested before the competent court in the place where the award must be executed. Therefore, is recommended precautionary measures apply directly to the judge and not before the arbitrator.

Against the arbitration award can only bring an action for annulment and request a review by the procedure for the final judgments in the LEC.

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