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After 5 years after surgery
Forum The affected ready to go to the European Courts
In bankruptcy have only recovered 10%. Criminal proceedings are very slow.

07/05/2011 - 08:00
Forum The affected ready to go to the European Courts
Five years after surgery, bankruptcy with only 10% recovered . Criminal proceedings are very slow. And leaving them appeal to the Supreme or demand on the Court of Justice of the European Union.

The consequences of the intervention of Philatelic Forum have not yet been resolved. Neither seems to be doing, at least in the short term. Five years after the National Police agreed to the headquarters of the company by court order, investors and savers who were unexpectedly caught in that operation, are waiting for their money. Although most still hoped to recover at least part of their investments, including recourse to the European court, if in Spain found no solutions.

And, the alleged Ponzi scheme that was based on the stamp business has opened numerous judicial fronts, most still have not closed down. The first was the bankruptcy process, in which the victims were recovered, in the best case, up to 10% of amounts invested over the years. That money came mainly from the money found in accounts of the company.

instruction is also in criminal proceedings, in which one of the main accused, and not just the subject but also by others as the case Malaya, José Manuel Carlos Yerco, is fleeing from justice.

"Management's Responsibility?

But the way in which those affected Forum Philatelic expect to be able to compensate for the blockade of their money invested is the possible liability of the state administration in this operation. So far the results have not been successful, because the High Court has denied any liability to the State in this matter. "It's an issue that is resolved in just a month when it will normally take three to four years, "explains Antonio Cuartero, president of the Association of People Affected by the Madrid Forum.

The next step involves going to the Supreme Court, but only those affected can make over 150,000 euros. "And here, most had spent only 20,000 or 30,000 euros," says Cuartero. "Only a complaint to the Supreme 10% of savers," says the president of the organization.

therefore a last resort hoping to qualify is to go to the Court of Justice of the European Union, located in Luxembourg. "At the time of surgery, had a mandatory European directives transposed into English law, "said Antonio Cuartero. For the president of the Association of People Affected in Madrid, "it was a financial activity that would force the English State to respond." And if it was not a financial service, "then the Administration will have to take a wrong action in the company, as stated in his time," says Cuartero.

Few investors can remember that first Tuesday in May 2006, when the insured returns offered in companies, Forum, through investment in stamps, be blocked and no one could have saved money for many years.


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