(Reuters) – Spanish bank bailout fund said Friday that the BFA state will decide on the eventual distribution of contingencies arising from lawsuits by IPO of its subsidiary Bankia in July 2011.
In any case, the Fund for Orderly Bank Restructuring (FROB) has agreed to any distribution of reserves are currently estimated maximum limit for Bankia in 780 million euros.
The question of how much of the potential costs could correspond to Bankia (owned 62 percent by Bankia) and BFA is still an uncertainty factor for Bankia listed that has forced him to postpone the publication of their accounts until Saturday, the last legal day for submission of results.
The FROB said Friday BFA (state-controlled 100 percent) have sufficient equity to meet the cost of its hypothetical involvement in the deal, “so that in no case would the use of additional public resources.”
The BFA-Bankia group, which was rescued with 22.424 million euros of public money in 2012, is under investigation for irregularities associated with the OPS and the reformulation of accounts with accounting errors ..
Although experts insist that the cost of claims is very difficult to quantify in a judicial process that provides long A court recently set bail at 800 million euros for the group and several former executives
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