Sunday, November 2, 2008

The tips of the boxes will have to approve in three months, the new model

Advertising The document envisages that the integration of new company is operating in ten months A working group is developing a contract that managers are beginning to explore now Maria Jesus Muniz lion Three months is in the top group of experts who will develop the fine print of the contractual joint group of society Boxes Castilla y Leon to send their opinion to the boards of the six entities involved. Then the tips of Caja Spain, Caja Duero, Caja Burgos, Caja Circle, Caja Avila and Segovia Fund must approve the formula of integration, an agreement conditional upon the subsequent acceptance of the general assemblies of each entity. To move this process there will be another month. The new financial institution of the Community will then have three months to complete the formalities leading to the company to register with the Trade Register; already contemplating the common institutions and their powers. Finally, there will be a period of three months to execute the integration. In short, Castilla y Leon boxes will be operational in about ten months if they meet the deadlines set out in the paper last Thursday was exposed to the social and economic actors and institutions themselves affected by what the president of Spain Fund, Santos Llamas, this weekend called "cold fusion". The contract's financial group will be established initially for fifteen years, to then move to be indefinite, and according to the draft states that if an entity incorporated to leave the group should communicate with two years in advance. In addition, if an entity decides not to go far in the group and aims to do so later, it will not do so on equal terms as those accepted at this time participation in the joint company. The document envisages that the central company (a joint stock company will be owned by all the boxes and supervised by the Bank of Spain) will take up other companies, which operate as a participatory shares when the new entity decides to exit bag, or managing securitization funds when the group needs to obtain funding for specific issues. As regards the sharing of the benefits, the working group will explore a solution on the principle that arises like the one that has more possibilities: a system of distribution according to the percentage for each box, but with the development some accounts that will strengthen the integration. " Since morning, three experts from each box of the community will work with officials from the Ministry of Economy and Employment and representatives of trade unions and employers to design, with the advice of the Bank of Spain, this model. Meanwhile, the technical teams of the entities now beginning to study the document they were just delivered

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