The road leading to the closure and liquidation of the aluminum factories owned by the American multinational Alcoa in Avilés (Asturias) and La Coruña has been made twice: in the first phase it acquired special significance. Joint Capital, an unknown mutual fund originating in Switzerland, although it has influences in Germany and the United Kingdom; and in the second, whoever placed the focus, Victor Ruben Domenech -also known as david domenech– with his ex-wife and partner, Alexandra CamachoHe is being investigated by the National Court for at least “negligent” administration.
first stage
Parter Capital Group – fund managed by a German citizen Rudiger Terhost– although it seems paradoxical, he bought the factories with the help of Alcoa. In June 2021, the Social Division of the National Court delivered a judgment that is now pending before the Supreme Court, clairvoyantly explaining: “The sale includes two renewable and reimbursed loans for the buyer, financial support to companies, $15,000,000 (EUR 13 and a half million). unobtainable credit or credit”. This amount (and its transfer to the European Monetary System) is crucial: it will be repeated over and over during the resale process of the facilities (from Parter to David Domenech’s corporate holding).
In the same sentence of the National Court, it is pointed out that Parter’s placing of these fifteen million dollars is “not appreciated”. And it is “not appreciated” because what is tangible in the eyes of Justice is a loan policy obtained by pledging (pledging) two fixed term deposits of the same value made by Alcoa Inespal Avilés and Alcoa Inespal La of Banco Santander. Coruña, the name of two factories allegedly looted before it was known as Alu Ibérica. The sentence continues: “Parter’s or blue movement [la sociedad instrumental utilizada para la compra por el fondo de inversión suizo] These amounts were to be deposited in the accounts of Alcoa Inespal Avilés and Alcoa Inespal La Coruña, for the buyer to undertake the commitment regarding these assets”. The move sells its shares to a third party [Grupo Riesgo]”. And he concludes: “Everything shows that once again Alcoa is taking over”.
second stage
The lack of cash movement was repeated when Parter Capital decided to resell the factories it had bought only a few months ago (July 2019) (April 2020). The price he put in – which is the hell of the investigation in the National Court at the request of the Confederation of Staffs – is 13 and a half million euros. Again.
Bankruptcy managers of the San Balandrán factory – lawyer from Oviedo Miguel Gomez Gordillo and the GdP Bankruptcy office – describe the second operation in their report to the Commercial Court No. 1 of Oviedo, tasked with monitoring the liquidation of the aluminum company that came to the Avilés area in the mid-1950s. The fifties of the last century and now, in 2023, only deserted ships, mountains of memory in the region and mountains of paper in the courts and offices of politicians remained.
The document, which was drafted by the bankruptcy managers, reads that when Domenech and Camacho took control of Alu Ibérica, they paid for Alu Ibérica’s shares in an operation that “represented a flagrant violation of the general prohibitive principle”. Spanish law under which a company cannot provide financial assistance to a third party for the purchase of its own shares or shares of its parent company”.
And they add: “The necessary funds for the trading of shares [de Alu Ibérica]What the acquirer does not own is issued in its entirety and by concerted action of the seller. [Parter Capital] and the recipient [el investigado por la Audiencia Nacional David Domenech]operating companies of Avilés and La Coruña”.
In other words, none of the buyers put a euro on the table, but the 13.5 million that Alcoa contributed to support an industrial plan to save the factories evaporated in addition to the factories’ core assets, excluding fixed assets. assets (buildings).
What is truly unique about the two operations to buy and sell factories between Galicia and Asturias that cost the jobs of half a thousand workers is that both took place without money. Or to put it better: without their heroes’ own money.