The court dismisses the judicial intervention of Malaga

first_img“Regarding the legal proceedings related to the APA complaint against the Al Thani family, we communicate the following:Today the court informs us that it continues with the investigation proceedings on the defendants, but dismisses the adoption of the precautionary measures requested, both the establishment of bail by the defendants for the amount of 8,676,849.26 euros , as the judicial administration requested.The judge understands that the investigation procedures initiated must be continued, especially in relation to the data related to the directive, economic, patrimonial and financial management of Málaga club de Futbol SAD, but by means of a decision issued for that purpose, determines that the precautionary measures requested by the APA are not adequate for now, because they are considered disproportionate, since the restriction of the rights of the defendants is an exceptional measure and it is not clear from the documentation provided by the APA in their complaint the need for them, since there is no evidence, in the judgment of the judge, that the Deficit economic situation of the club is clear of the commission of a crime, which is obviously what the criminal jurisdiction must prove. Bad news for the small shareholders of Malaga. The judge of the Court of Instruction number 14 of Malaga has rejected the request of the Association of Small Shareholders (APA) of the Málaga Club de Fútbol and has not decreed the precautionary measures against the property of the club. The judge determines “that the precautionary measures requested by the APA are not adequate for now, because they are considered disproportionate,” the APA reported this morning in a statement in which it announced that it will file an appeal against this order.Minority shareholders requested in the criminal complaint filed against club property for the alleged crimes of unfair administration and misappropriation withdraw control and management of the club to the Al Thani family, the establishment of a bond by the defendants and the judicial intervention of the club and appointment of an administrator. The complaint was admitted for processing and the investigation continues, although precautionary measures, for the time being, must wait.The full statement of the Association of Small Shareholders is as follows: It should be noted that the APA provided the documentation at its disposal, and that the rest of the documentation that may be necessary has been required of the defendants by the court, who have not provided it.However, with the documentation provided by the APA, the judge admits that it can be verified that, “effectively, the Sports Society would be in a delicate and weak solvency situation, a situation that according to the annual accounts presented by the complainants and those contributed to requirement of the court by the Professional Football League, is rolled back, at least, to the year 2006, when the company declared itself in a situation of voluntary competition and its judicial administration was agreed.The court admits that the annual accounts closed as of June 30, 2019 have been presented to the LFP (although they have not yet been approved by the Shareholders’ Meeting) and that the 5 loans granted to members of the Board of Directors are reflected in said accounts , as well as the lines of credit contracted with the entity Nass Football SLU. Likewise, it is admitted that in the aforementioned accounts the serious solvency situation in which the entity is located stands out, and the situation of indebtedness that is permanently, and to a greater or lesser degree, is reflected back at the time of the declaration of the bankruptcy It has been maintaining the Sports Public Limited Company, and what has logically influenced the decline in the category of the team, which leads to the argument that this has also led to a significant decrease in the income of the company.For all these reasons, the judge concludes that there is no evidence that “for now” proves that the deficit situation responds to the commission of the reported crimes, without prejudice to what they subsequently reveal the progress of the investigation., so that, where appropriate, and according to its result, the circumstances that today have been taken into account to dismiss the measures requested by the APA could be modified.From the APA and said with all due respect to the judicial decision, the appropriate recourse will be presented against the order issued, attaching the new documentation that works in our possession, and in order to try to ensure that the instructor has more probative elements with in order to revoke your current decision. ”last_img read more

Third parties have proven to be cunning, ambitious, and unprincipled

first_imgDear Editor,The lure of power and pecuniary gain will always rule paramount for third parties. This was evidenced in the 1964 elections, and again in the 2015 elections by both the UF and the AFC. The pretenders and the pretensions of these third parties are well documented.In fact, those in the AFC are currently squandering the opportunity to become patriots who can bring about the necessary changes to propel this country towards socio-economic growth. Where have the progressives gone? Without an iota of doubt, they have been utterly consumed by the PNC, because of their greed and lust for power. Another third party just dissipated!It must be recalled that the main thrust and objective of the leaders of the AFC was to ‘get rid of the PPP’, as evidenced even before the coalition was formed by the subversive tactics they used in Parliament. It was never about putting Guyana first, but rather about getting rid of their arch enemy. At no point in time was the AFC honest about tackling the socio-economic problems facing this country. They made the country ungovernable, and this led to a vote of no confidence tabled by Nagamootoo, the dissolution of Parliament, and the calling of an early Election in 2015.It must also be recalled that, at its formation, the founding leaders had vowed never to coalesce with either the PPP or the PNC, since they claimed that both had destroyed this country. They had vowed to remain independent, but the grand entry of the genuine pretender Moses Nagamootoo just before the 2011 Elections changed all of that, with his guile and innate ability to manipulate.Therefore, Mr Ralph Ramkarran’s proposal outlining the characteristics which a third party must have in order to be viewed as utopian in nature is meant for academic discourses rather than being based on the realities of our situation. I am sure he is genuine in what he has proposed, but it simply will not work.There will never be ‘political unity,’ such stuff are what dreams are made of; it is a myth! The ‘waste, extravagance and corruption’ of our oil monies have been set in motion. Furthermore, no third party will be willing to hold the reins of the Presidency until the Constitution is amended to include shared governance, in accordance with the parties’ support at the elections. This will happen only if the third party wins a majority and can get a two-thirds majority or call a referendum. This will never happen!On the other hand, if the third party does not secure a majority or a plurality, then it will be in opposition advocating for a unity Government. This, again, will never happen, since the winner takes all mentality bears a strong incentive against this. The alternative scenario is that, if this call is ‘resisted,’ then the third party will support ‘the party which agrees to implement its policies of constitutional reform, leading to inclusive governance,’ to fight poverty, crime and corruption. In opposition, the AFC has proven that it will work to topple the Government to secure power and a ‘good life’ for itself. So this, again, will not happen.Where will we find a third party which possesses ‘that higher purpose which resonates with the Guyanese people’? Third parties have proven themselves to be the means by which cunning, ambitious, and unprincipled men will be enabled to subvert the power of the people and to usurp for themselves the reins of Government. Another third party is criminal!When I was a boy, I once said to my father, “Dad, we need a third political party.” He said to me, “I’ll settle for a second.” (Ralph Nader)Yours sincerely,Haseef YusufRDC Councillor, Region Sixlast_img read more