Trinitario Casanova Expands Baraka Holding’s Share Capital as his Business Litigation “War” Rages

2 March 2020 – Brainsre.news

The company, which was set up in December last year and in which the businessman Trinitario Casanova features as the sole administrator, has carried out a capital increase amounting to €104.6 million. The entrepreneur, who is well known for buying bankrupt and troubled companies, and filing lawsuits on controversial projects, is currently fighting three legal battles for which he will need resources.

One is them is the Distrito Norte project, better known as Operation Chamartín: Casanova filed a lawsuit against BBVA and Distrito Castellana Norte (DCN) in October, claiming €713.8 million for breach of contract regarding the reversionary rights in the Chamartín operation. According to Baraka, both companies “are contractually obliged to satisfy the reversionary rights resulting from the expropriation of the Chamartín and Fuencarral railway enclosures.”

In fact, the newspaper EjePrime reported that the capital increase has been undertaken precisely to cover the cost of this possible litigation, which has been admitted for processing.

Original Story: Brainsre.news

Translation/Summary: Carmel Drake

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