After hearing evidence from the victims, and the defence by lawyers for BNP Paribas and Banco Gallego, the former claiming his bank was innocent and any fault/guilt/blame was that of the US President, who had not rescued Lehming Brothers.
The Plaintiffs, via their solicitors in Valencia and Javea appealed to an Alicante Tribunal, who - months later - sent the case back to Denia with (I understand) an instruction that the decision of the Denia Judge was not correct. Nothing more was heard - no immediate compliance with their instruction to reconsider her verdict, everyone waited. I meanwhile had written to Banco Sabadell who had bought Banco Gallego (who had bought BNP Paribas Private Account holders in Spain) as well as their obligations.
The reply from Sabadell, dated 8th September 2014
was again unsympathetic but a second page gave me the name of the Bank Defensor del Cliente, the Bank of Spain and the Department of Inversiones.
At the same time, it seems Sabadell were under instruction from the Judge in Denia (after Appeal) to settle the claims, and 7 of the 9 original litigants went to SabadellCam on Friday 3rd October to receive 95% of the money they had authorised BNP Paribas to invest WITHOUT RISK - all were pensioners and at least one has died - with the other 2 sticking-out for 100% payout.
I would have assumed that their precedent of offering 95% reimbursement to those swindled by BNP and/or their local manager Moises Erades, would have resulted in their willingness to settle with Ann and I, but it sounds as if it won't be that simple. We are now faced with having to find the documents relating to the various portions of 450.000€uros we sold - often having to accept a loss of 50%.
