ATTORNEY RIBELLES has been defending and promoting, in the interest of the shareholders of BANCO DE VALENCIA, which it represents in the criminal proceeding against its former directors for their bankruptcy, the subsidiary civil liability of CAIXABANK in its capacity as universal successor to Banco de Valencia.

Although the incorporation of CAIXABANK as civil liable is currently pending the resolution of appeal, the recent news about the possible merger between CAIXABANK and BANKIA could have a relevant collateral effect for the criminal procedure.

As a consequence of the request for ATTORNEY RIBELLES On behalf of the shareholders it represents, BANKIA was declared Subsidiary Civil Responsible by Order dated March 13, 2017. Therefore, in the event of the merger of BANKIA and CAIXABANK, the strict application of art . 23 of Law 3/2009, would entail that the resulting entity succeeds BANKIA in the obligations that correspond to it in the criminal procedure.

In its issue of September 8, 2020, the newspaper VALENCIA PLAZA echoed this possibility on the front page, on the occasion of the news of the merger of both banking entities.

This publication can be consulted at the following link: "Banco de Valencia shareholders are closer to being compensated with the Bankia-CaixaBank merger".

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