Unicaja gets Banco CEISS for free, taypayer pays the 525 million euro debt
The State has approved a deal in which Unicaja, Andalucia’s biggest savings bank, takes on Banco CEISS without paying a eurocent. Banco CEISS was formed out of the ruins of Caja España and Caja Duero. It too, promptly went bankrupt. The taxpayer has so far injected 525 million euros into this trainwreck. However, Unicaja has, very sensibly, refused to accept ANY of the liabilities of CEISS. Instead, all assets of CEISS will be turned over Continue reading Unicaja gets Banco CEISS for free, taypayer pays the 525 million euro debt