The conviction of seven defendants involved in the vicissitudes of the collapse of the popular bank of Vicenza, for savers if not immediate effects, can have interesting implications. First of all, for the approximately 1,500 shareholders of Popolare di Vicenza who had filed a civil action, their expectations of justice will have been met. The sentence in fact condemns the seven defendants to pay compensation for savers in court, to be liquidated in a separate judgment.
Sentence for seven without economic benefits
However, this will hardly yield a few euros in terms of compensation. The lawyer Luigi Fadalti, defender of about 200 of these savers, states: “The sentence from an economic point of view does not have a real effect, because the convicted subjects certainly do not have the availability to pay the sums that could be subsequently liquidated and the liquidation of the bank has no availability. More interesting could be the speech when the prosecutor initiates the action for fraudulent bankruptcy, for which the ruling on the state of insolvency is awaiting. In that case, the responsibilities of the board of statutory auditors and the auditing company could also be assessed. By widening the range of responsibilities, the chances for savers to see their economic claims recognized also obviously increase. “
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Because “massive violations” is the key expression
Yet, apart from the expectations of justice, which are also sacrosanct, yesterday’s sentence is an important step for many of the savers involved in the crack of the Venetian bank. The key phrase is “massive breaches”. In the procedures for accessing the services of the Savers Compensation Fund (Fir, on the subject see the dedicated page on today’s Plus24), it is in fact envisaged that situations that give rise to massive violations by banks to the detriment of savers give access to compensation of the fund and to evaluate them, the convictions of the banking top management are certainly an important step.
Favorite those with assets under 100 thousand euros
The relevance is mainly for those who do not access the simplified procedure for the Fir: that is, assets under 100 thousand euros and income no more than 35 thousand. The conviction by the Court of Vicenza for the seven subjects involved in the affair of the local Banca Popolare, is certainly an additional element to certify the presence of a massive violation. Furthermore, Consap is asking many savers who have submitted the request for compensation (which concerns ten other institutes besides Vicenza) for an integration of documentation and in the case of the Venetian, the sentence can be an additional element.