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8 de junio de 2017

The liquidation of Banco Popular leaves families of Opus way of bankruptcy

Image result of the liquidation of Popular leaves families of Opus way of bankruptcy


"We do not want to hear about the People", he commented this morning a shareholder of the financial institution and a member of Opus Dei . 
"Opus is not a shareholder of People" , also he highlighted this morning an official spokesman of the religious order. 
" It is true that there are many families of Opus who have been shareholders of the bank, but on a personal level , " he added.
The first who will pay for the crisis of  Banco Popular  are its shareholders, who have seen today as its shares in the bank worth zero. 
And among them are many families linked to  Opus  whose faith in the bank his entire life has been broken. Although e l Opus officially denies that a shareholder of the Spanish bank,  the truth is that through foundations and companies linked to the order has always been one of the helmsmen of the entity.

The first group whose directors are recognized members of  Opus  which has already announced that he comes up after resolution and subsequent sale to Santander  of  Banco Popular has been European Union Investment . 
The company, which owns  123.5 million shares of Banco Popular , has informed the National Securities Market Commission that "has proceeded to the redemption" of such shares. 
"Given the impact of this measure for the company, it communicates that the board will meet as soon as possible to discuss the new scenario and promptly informed of any decision that may be adopted for the future of society" reports in its statement to market regulator.
In recent accounts of  European Union Investment,  signed last February, the auditor thereof,  BDO , includes an emphasis paragraph noting that the company "focuses all of its investments in shares of Banco Popular" , so that says the auditor, the future of society is linked to the Spanish bank. 
In fact, the decline experienced by the People 's value during 2016 meant that the net worth of European Union Investment was negative amounting to  117 million euros.
Last year  European Union Investment formalized funding two operations worth 230.8 million used to cancel all previous operations with credit institutions. 
Such funding and the establishment of its shareholders, made  by foundations also linked to Opus,  can cause a cascade of them critical situations following the collapse of the value of shares of  Banco Popular.
In the capital of  European Union Investment  foundations involved also linked to  Opus Dei . 
With 18.7% of capital, at December 31, 2016 , is located  Fund for Social Attentions Foundation , founded in 1986, dedicated, says on its website , to "the promotion, development, protection and promotion of the socio- culture, all aimed at satisfying the needs of all kinds, moral or physical (...) ".  
The foundation is chaired by  Carlos Figuero, who is also manager of the board of Torreciudad , a sanctuary built in  Huesca promoted by the founder of Opus Dei,  José María Escrivá de Balaguer .
Attentions Foundation for the Social Fund "provides grants to institutions or groups that require temporary lease of resources to meet current needs, but later will repay the aid received from its own resources". The foundation does not specify on its website that bodies or associations have received their help. 
Only publishes a reference to its accounts for the years 2013 and 2012. 
In 2013 the foundation had  equity by 24.3 million  euros, and lost more than half amillion euros. 
That year he received donations and grants amounting to 320,442 euros.
Another major shareholders of  European Union Investment  is the  IEISA Foundation , with 18.6% of the capital, also founded in 1986 "to respond to training needs and health care communities around the world." 
Direct the foundation is entitled Institute of Education and Research,  created in 1981 and led by Gregorio Lopez Bravo .
IEISA 35 years ago received a grant / loan granted by  José María Ruiz-Mateos,  in the same period of the expropriation of Rumasa . 
In total, the amount paid by Ruiz-Mateos to IEISA  amounted to 1,770 million pesetas.Lopez Bravo , Minister of Industry and Foreign Affairs between 1969 and 1973, supernumerary of  Opus, Ruiz-Mateos as when they agreed loans, died in the plane crash of Mount  Oiz Bilbao in 1985.
Since then, Spanish entrepreneurs and executives recognized members of Opus have managed the capital of IEISA investing large amounts in the stock market. 
According to the accounts of  2014 Institute of Education and Development, that year had investments in listed companies worth 24 million euros.
In Institute of Education and Development have worked as counselors, among others, Luis Herrando Prat de la Riva  (President), who resigned last year as director of Banco Popular, and is the brother of  Ramón Herrando Prat de la Riva , regional vicar Opus Dei in Spain; Pedro Pasquin Echanove, CEO of Lazard in Spain, and last December resigned as patron of the IEISA Foundation and its seat on the board of the Institute for Education and Development; Alberto Horcajo Aguirre,  CEO of Telxius , the company that brings together infrastructure assets Telefónica; Ramon Mora-Figueroa Domecq , 
The  Foundation for Development and International Cooperation  holds 12.8% of European Union Investment. El  -Vasconia Foundation Cooperation Social Fund , linked to the  University of Navarra , has 8% of the company shareholder of Banco Popular. 
University Foundation of Navarra "formed for the promotion, development and financing of the activities of the University of Navarra and its relations with society", owns 5.8% of European Union Investment.
Service Management Company controlled by  José Ramón Rodríguez García , has 7.1% of European Union Investment. The company, dedicated to real estate, registered losses in the years 2015 and 2014 exceeding half a million euros and bank credit exceeding 16 millio

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