Judicial blow for Ángel Ron in one of the first causes that analyze the fall and absorption of Banco Popular in 2017 by Banco Santander.
The court of first instance of Madrid has condemned the former president of the Popular to return 13.09 million euros corresponding to the compensation charged in advance in the first quarter of 2017 without having effectively held the position of director since February 20, 2017 , together with the legal interests accrued from the date of filing of the lawsuit.
In addition, the judge considers applying the 'malus' clause in relation to the variable remuneration of the 2014 and 2015 financial years so that Ron returns an amount of 215,546 euros and reduces to zero the collection of an amount of 42,600 euros pending collection also linked to the year 2014.
In relation to the Popular retirement plan for Ron, the judge considers that it is appropriate to apply the prior adjustment or recovery (clawback clause) of those amounts that, in execution of the income insurance policy dated February 20, 2017 and in compliance with the Early Retirement Compensation regulated in article 27 of the Banco Popular Statutes, "they were paid by the insurer Mapfre to Mr. Ron from February 20, 2017, as well as those that Mapfre paid during the processing of this process".
"This sentence is not firm, and against it there is an appeal, to be filed in writing before this Court within twenty days from the day following its notification, before the Provincial Court of Madrid," explains the magistrate.
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