tag:blogger.com,1999:blog-3650710279873852946.post5902510928525490311..comments2023-06-01T11:04:57.735+02:00Comments on Lost in Sant Cugat: Stealing from the poor with preferred sharessantcugathttp://www.blogger.com/profile/03954580358605135521noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-3650710279873852946.post-35458974258897138142012-07-12T12:10:08.025+02:002012-07-12T12:10:08.025+02:00Do you know if anyone has guesstimated the total s...Do you know if anyone has guesstimated the total sums/heads involved?The Singing Organ-Grinderhttps://www.blogger.com/profile/04487387301124491134noreply@blogger.comtag:blogger.com,1999:blog-3650710279873852946.post-62769138112719112762012-07-10T14:46:10.451+02:002012-07-10T14:46:10.451+02:00From what I can tell, Bankia is offering some cust...From what I can tell, Bankia is <a href="http://www.elmundo.es/elmundo/2012/06/21/economia/1340287862.html" rel="nofollow">offering some customers</a> a swap to a 5 year 1% deposit, which is effectively a loss 20% at current market rates.<br /><br />It would also make a big difference whether the deposit was for Bankia or for one of the BFA entities (Caja Madrid, etc).<br /><br />I'd definitely talk to a lawyer about her options. The danger of going the lawsuit way is that you might (eventually) end up with a judgement against an effectively bankrupt entity, which would be worth very little.<br /><br />On the lawyer front, the good news is that the Spanish Supreme Court has since 2009 allowed contigent fees, so if she sues the court for damages, she might be able to recover the legal costs without having to put out an initial payment.santcugathttps://www.blogger.com/profile/15875225582566483983noreply@blogger.comtag:blogger.com,1999:blog-3650710279873852946.post-20880015449760540712012-07-10T14:26:27.048+02:002012-07-10T14:26:27.048+02:00The same thing is happening to my Mother-In-Law ri...The same thing is happening to my Mother-In-Law right now in Barcelona. She deposited her money in the bank (Bankia I believe), seeking a very modest return. However, the bank changed her deposits to preferred shares without her consent (and without her knowledge). There is nothing written in the contract she signed that allows the bank to make such a move. <br /><br />What can be done?Caseyhttps://www.blogger.com/profile/00551079102480949219noreply@blogger.com