The President of the Pan−Slovenian Shareholders' Association (VZMD), Kristjan Verbič, MA, attended at the seat of The Central Bank of Spain in Madrid a discussion about the future and relevance of Central Banks in the European Union. At the same time protesters gathered in front of The Central Bank of Spain, and they welcomed the legal action brought by the law firm Cremades & Calvo-Sotelo against The Central Bank, because of fraud against small shareholders, for which Spanish State Bank Bankia is also held responsible.
The Bankia case is reminiscent of the Slovenian NKBM case. In 2011 Bankia shares were offered to investors at the price of 3.75 € per share. Due to the government’s encouragement and assurances, the shares were mostly purchased by domestic inexperienced investors, who bought them with the pension saving purposes. Thus Bankia got about 347.000 new investors, and share trading began on Madrid Stock Exchange. About a year later it turned out that the bank is in a very bad economic position, and the shares dipped sharply on the Stock Exchange. Similarly to NKBM case, Bankia also went through the process of capital increase in the amount of 10.7 billion €, and new shares were issued with the nominal value of only 0.01 €. In this way the property of the owners almost completely diminished, and for this reason the law firm Cremades & Calvo-Sotelo, in the name of 347,000 deceived shareholders, brought a legal action against all those in charge, among them primarily The Central Bank of Spain.
Tuesday's Founding General Meeting of the International Network of Law Firms International Financial Litigation Network (IFLN), where one of the key protagonists is the very law firm Cremades & Calvo-Sotelo, opened up the possibilities of successful enforcement of rights of the swindled small shareholders - in global context, as well as in other national environments. In this respect VZMD President has already established direct contacts with some highly esteemed law firms in the framework of the newly established IFLN network.
Otherwise Mr. Verbič, MA, as a Slovenian representative yesterday attended the annual meeting of the World Federation of Investors (WFI), and in its framework WFI members, among other things, confirmed the minutes of the last year's important annual meeting in Ljubljana, and they also granted membership to representatives from Germany, Romania, Serbia, and Thailand.
The session was followed by the visit to Spanish Congress, where the guests were welcomed by the President of the Congress Mr. Jesús Posada (pictured above with VZMD President), and the President of the Regional Parliamentary Commission. While visiting the ancient city of Toledo, VZMD President also met the City Mayor Emiliano García-Page Sánchez during the reception (pictured below: VZMD President, Mayor García-Page Sánchez, and attorney Javier Cremades).
After visiting the Central Bank the participants met the representatives of EADS concern, where civil and military planes are made, as well as aerospace technology, and the concern combines four leading companies in its field: Airbus, Astrium, Cassidian and Eurocopter. On this occasion the guests were received by the EADS Vice-President and the Head of the Spanish part of the concern, Jacinto Garcia Palacios, and they also saw the production of the latest models of Airbus A350 and A380.
As usually, suitable provisions have also been made on this occasion, ensuring successful presentations of companies, institutions and investment projects included in the VZMD international business-investment programmes.
After some successful presentations performed in Astana, Almaty, Baku, Brussels, Bucharest, Vienna, Ljubljana, Moscow, New Delhi, Tokyo and Zagreb, there will be at least a few more presentations carried out next month in Moscow, Vienna and Cape Town.
Other Related International Activities:
KAZAKHSTAN – a successful visit of the Slovenian business delegation in Kazakhstan – strong interest displayed in the international investors’ programs of the PanSlovenian Shareholders’ Association (VZMD): investo.si and invest-to.net (Astana, Almaty, June 2013)
VIENNA – EXCLUSIVE VIDEO REPORT from the European meeting of venture and start-up capital funds and the congress of business angels’ network EBAN 2013 – an active role of VZMD and its international investors’ programs investo.si and invest-to.net (Vienna, May 2013)
VIDEO REPORT – Variegated happening at the 19th financial fair KAPITAL 2013 at Cankar Hall, along two-day presentation of the international investors’ programs and the lecture of VZMD President (Ljubljana, April 2013)
VIDEO REPORT – exclusively from the European Parliament: the EuroFinUse international conference and the Election Assembly, the announcement of the new President and Board of directors of this influential European association, into which a representative of Slovenia is also re-elected (Brussels, March 2013)
BRUSSELS – Slovenia with VZMD once more elected to the top of the European Federation of Financial Services Users – intensive international activities today continue with a conference in the European Parliament (Brussels, March 2013)
TOKYO – conclusion of the visit of Slovene economic and political delegation with Slovenian-Japanese Business & Investment Forum and the reception at Japanese investors’ association – the active role of VZMD with its international investors’ programs investo.si and invest-to.net(Tokyo, March 2013)
INDIA – visit of Slovenian government and business delegation – on the basis of Memorandum between ICPE and VZMD international investors' programs investo.si and invest-to.net also present (New Delhi, February 2013)
Memorandum of cooperation signed between the International Center for Promotion of Enterprises (ICPE) and VZMD, with additional expansion of activities within the framework of international investment programs investo.si and invest-to.net (Ljubljana, January, 2013)
EXCLUSIVE VIDEO REPORT of “International Conference on Benefits and Challenges of Public Private Partnerships for improving Energy Efficiency” – key statements of prominent participants (Ljubljana, October, 2012)
VIDEO REPORT - Prominent Participants of Two Key International Conferences in Bled, India and Slovenia as Business Partners and CloudForum, Show Interest in the Investors’ Week in September in Slovenia (Bled, March 2012)
EXCLUSIVE VIDEO REPORT from Slovenian - Azerbaijani Business Forum in Baku (Baku, January, 2013)
EXCLUSIVE VIDEO REPORT from EuropeanIssuers International Conference on »The future of European Equity Markets« at the Milan Stock Exchange – programs investo.si in invest-to.net also at the upcoming International Investors´ Conference in Wiesbaden (Milano, November 2012)
EXCLUSIVE VIDEO REPORT - Investors' week and the view of business potentials and investment opportunities during the visit of distinguished international guests at the Slovenian coast (Postojna, Koper, Piran, September, 2012)
VIDEO REPORT "Ljubljana declaration" – historic decision on unification of 50 organizations of shareholders and investors under one association and VZMD award »Polet« for »Model corporate governance in multinational corporation« to Gorenje company (Ljubljana, September 21, 2012)
Gala reception and dinner before International Conference on financial education and investors` exposition »investo Expo« (Ljubljana, September 19, 2012)
VIDEO REPORT - International Conference at the Brussels Stock Exchange Stimulated Investors' Representatives and Institutions to Participate at the Investors' Week 2012 in September in Slovenia(Brussels, March 2012)
"Slovenian Day at the Warsaw Stock Exchange (WSE)" Exceptional Interest of Funds, Investors, and the Financial Media for Slovenian Companies and Its Investment Environment - The Introduction of investo.si - Invest to Slovenia's Newly Founded Affiliate, investo.me - Invest to Montenegro (Warsaw, October 2011)
SLOVENIA PRAISED IN PARIS – acclaimed presentation of reputable Slovenian companies at the largest European investment convention, Actionaria, and the General Assembly of the World Federation of Investors Corporation (WFIC) – VZMD.TV EXCLUSIVE BROADCAST (Paris, December 2010)
www.vzmd.si – More on the VZMD – PanSlovenian Shareholders' Association