Despite the fact that a first instance court last week issued good news for José María del Nido Benavente by admitting the precautionary measures he requested in the case to break the management agreement that signed by the leading shareholders of Seville, the former president suffered a new setback with a resolution of the Provincial Court. That decision by a Civil court gave him the freedom to vote at the Shareholders’ Meeting without aligning his vote with that of José Castro and his own son, Vice President José María del Nido Carrasco.
Now, according to this order issued by the justices of the Court from which there is no appeal, Del Nido will not be able to ungroup the shares that make up its majority package, which in 2018 it consolidated in favor of the rights of minorities to have three representatives in the council. And this prevents him from voting in favor of the agenda item requested by the group supporting him now, ‘777 Partners’, to include the elimination of positions on the board of directors and to appoint a new president.
However, Del Nido did not give up and the Sevillian lawyer published in his WhatsApp status a phrase that sounded like a warning for sailors. “It doesn’t matter how many times you fall, what matters is that you get up once. Let’s keep going until the final victory,” the former president showed after being notified of the resolution of the Hearing.
The fight will be long. For now, Castro and the alliance that keeps him in the presidency have the power for the next Meeting on the 29th. Del Nido is the largest individual shareholder, controlling about 31% of the titles. However, by virtue of the agreement signed by Sevilla’s big families in 2019, if any of them voted in the opposite direction from the others, they would have to face very strong financial penalties. And the Court that agreed with Del Nido by allowing him to vote as a precautionary measure also clarified that the agreement still exists and, with it, the heavy penalties.
A real nonsense completed with the impossibility of voting on the main point, the positions of the council, where in the previous Board he complained with the famous phrase that they gave him “a remote control without batteries”
Source: La Verdad
I am Shawn Partain, a journalist and content creator working for the Today Times Live. I specialize in sports journalism, writing articles that cover major sporting events and news stories. With a passion for storytelling and an eye for detail, I strive to be accurate and insightful in my work.
