Cheated by the banks of the north-east are they preparing for the final showdown?

Cheated by the banks of the North East are they preparing for the final showdown?
Are we at the final surrender after 30% of the losses have been recovered, there are still 563 million funds left to distribute to betrayed savers?

This is what is starting to take shape on the horizon of the confrontation between savers' associations and the Government or, better to say, the MEF: Here's why.

Chronicle of the recent assembly of the association, Noi che believedi nella BPVI

After the customary pleasantries and the introduction of the guests, including numerous deputies and well-known technical and legal consultants, things immediately get underway.

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First of all, the reasons for the convictions are illustrated.
In fact, they follow the testimonies that emerged in the trial and the telephone interceptions carried out by the investigators.

Zonin was held fully accountable and even held a “predominant” role and “Undisputed Leader” within the BPVI board.

Total absence of debate within the board of directors of Pop di Vicenza.

Among the testimonials trial and interceptions: " Nothing happened without Zonin not knowing", "He was the absolute monarch" , "President Zonin intervened to say to convince the shareholders not to sell the shares" , "If customers need liquidity finance them without making them sell the bank's shares" .

From the investigations, therefore, Zonin's will and willful intent as the first and main actor in the Bank's strategies emerged.

Sentences halved

Although the defendants have become final and the sentences have been halved due to numerous factors, including the willingness of some of them to cooperate, the sentences are final.

But the definitive sentence that most interested the associates of "Noi che credemo" is the one that completely exonerates savers from the infamous label of speculators.

Savers have gone from being considered speculators to being recognized as victims.

Furthermore, the sentences, even with the possible intervention of the limitation period, make it possible to appeal to the civil court for compensation for damages , which, if the trial had not been held, would no longer be possible.

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Other important aspects that emerge are:

– The auditors were fined 300,000 euros. Result obtained because the association sued them.

– New overt opacities are emerging in the work of the liquidators. Inadequacy of the press in the narration and publication of news.

FIR

Those EXCLUDED FROM THE FIR (i.e. from the distribution of funds among the victims) for having made a mistake in completing the applications took the form of the fact that the applications that were not accepted, after being accepted again by the TAR following the division of the funds to be distributed among the savers, were quashed by the Council of State as in large numbers.

In fact, the MEF challenged the TAR's ruling before the Council of State, which overturned the TAR's ruling, because the law does not provide that the TAR can readmit those excluded.

According to the Association's lawyers, the overturning is not fair and justified, but given that the Council of State represents the last possible instance, it makes further appeals difficult (but not impossible, ed.), since the procedure for appealing for compensation was a alone for everyone, and those who made a mistake in filling in the application were in good faith since they could not have obtained any advantage from filling in the application incorrectly.

So from a judicial point of view it is unlikely to go against the sentence of the Council of State. However, the excluded are entitled to compensation. The association appeals to politics, so that a political intervention, at a legislative level, can change the fate of the thousands of savers excluded from the FIR.

According to prof. Aldo Dolmetta instead, the sentence of the State Court is not much and savers should ask for a review by reformulating the appeal by adding the reasons to support the request. In short, according to Dolmetta there is still the possibility of redoing the procedure.

There are still around 500 million of the fund left to be distributed among the excluded, as well as those who have already been compensated for the residual amount due to each defrauded saver.

Government and oppositions in favor of accepting appeals from savers, while the MEF…

An interesting figure refers to the real value of the BPVI and denies the €1 gift given to Banca Intesa.

The real value of the BPVI was established by appraisals which established that it was 50% and not ZERO, compared to the evaluation of Zonin & C.

The total theoretical value of the two Veneto banks is therefore between 3.6 and 3.8 billion; that is more than double the 1.5 billion of the FIR.

All value currently managed by the liquidators mentioned above. Wealth that, according to financial statements shown during the meeting, the liquidators are transferring to third parties without realizing it. Hence the opacity we mentioned above.

So it is fair and sacrosanct that the 563 million go back to savers.

The amendment included in the 1922 budget law served to exercise the immediate release of funds. The amendment was then withdrawn by the government majority for reasons of expediency.

This is why the amendment was included in the Milleproroghe – approved – because it served to keep the FIR body alive. Without it, the 563 million would have been lost; hence the reason for withdrawing the above amendment.

To date, the political will of the various parties is to follow up on the distribution of the residual treasury, but there is the body of MEF officials (a technical, extra-governmental, and theoretically non-political body) which as long as it has been under the guide of Alessandro Rivera, for years he got in the way.

Today the MEF has changed its leadership and the Association, Noi che believedo of the BPVI , will not let go of the compensation that remains to be restarted.

The crucial point is that the FIR could already start distributing the 563 million, over the 30% already disbursed, because it is imposed by the compensation law.

The Association intends to discourage the MEF's ostracism, because the MEF's will is to spend those 563 million (by giving them to Ukraine? Ed) instead of redistributing it to cheated savers.

Here the Association will warn the MEF: "Be careful not to distract this money and keep in mind that if the money is not distributed by 30 June, we will sue the MEF, bypassing the political paths".

The Association asks its members to issue the same warning to the MEF through this link: https://noichecredevamo.com/diffida / or by giving consent/delegation to the Association.
If the MEF continues its work of ostracism to bring the FIR to expiry without making the subdivision, the citizens will sue it.

Whoever fights can lose, but whoever doesn't fight has already lost from the start. The third route has already been taken in Vicenza.
As the full-screen quote reads: “If we don't find a road, we'll build one”, no time was wasted around here.

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The article Cheated by the banks of the north-east are preparing for the final showdown? comes from Economic Scenarios .

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This is a machine translation of a post published on Scenari Economici at the URL https://scenarieconomici.it/truffati-dalle-banche-del-nord-est-si-preparano-allo-scontro-finale/ on Sun, 19 Feb 2023 13:10:03 +0000.