Thursday, November 6, 2008
The bankruptcy of Lehman Brothers affects half a thousand investors Aragon
ZARAGOZA. The bankruptcy of a U.S. financial institution Lehman Brothers has affected half thousand investors Aragonese, as revealed yesterday in Zaragoza Association of Users of Banking Services (Ausbanc). Lehman Brothers accumulated losses of 60 million euros, which eventually led him into bankruptcy, whose effects have spread to several countries, given that various entities and individuals were linked to this investment firm. In Spain as a whole, the number of people affected would amount to 10,000, according Ausbanc recalled yesterday. Among them, investment linked to Lehman Brothers would amount to 4,000 million euros. The president of Ausbanc, Luis Pineda, told Efe that this association has received 70 calls from investors to denounce Aragonese losses related to products guaranteed by Lehman Brothers and marketed by different banks operating in Spain. According to Pineda, Ausbanc has already opened six cases of alleged complaints. But they are not the only ones affected. Jose Luis Pineda explained that, based on a calculation of market share and the number of branches of the entities involved, Ausbanc estimated that there are about 500 Aragon investors who have directly suffered the consequences of the bankruptcy of the U.S. organization. Lawsuits The association will begin to bring the first demands next week to seek the nullification of the contracts, as they were sold products without being secured, or the payment of compensation to affected users by mismanagement and bad advice of the entities marketers. Pineda has lamented the crisis of confidence that generated the case of Afinsa and Forum-bankruptcy of Lehman Brothers, but has stressed the guarantee of deposits boxes Aragon, in line with what we are also highlighting the political leaders of the Commonwealth and the positive data and solvency situation that presents these financial institutions.