NKBM = BANKIA - mass protests take place in front of The Central Bank of Spain (CBS) because of national fraud against 350,000 shareholders who are represented by the law firm that is attending, along with VZMD (Pan−Slovenian Shareholders’ Association), t

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.

VZMD is pleased to invite all who would like to take part in their activities to contact investo.si VZMD programme coordinator by phone 031 770 771, or e-mail This email address is being protected from spambots. You need JavaScript enabled to view it.

Other Related International Activities:

MOSCOW – At the Slovenian Embassy about a joint investors’ conference in the fall – an arrangement between the Russian Federation of Investors, VZMD and the Slovenian Embassy (Moscow, June 2013)

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 investo.international (Astana, Almaty, June 2013)

WORLD BANK – President of VZMD and EuroFinUse Board Member speaker of the first panel at the international conference about audit reform and the importance of audit committees (Bucharest, 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 investo.international (Vienna, May 2013)