TREMENDOUS SITUATION OF uncertainty faced by the shareholders of Buses Estrella Blanca SA de CV
And it is that the company, which is one of the most important in the land passenger transport sector in the country, is immersed in a judicial procedure.
Cuauhtemoc Martinez, one of the main shareholders, former treasurer of the same and former president of the Canacintrasued before a Civil Judge of the CdMx the nullity of various clauses of the bylaws.
It happens that as they are, they allow, against the law, that their Board of directors is constituted as a higher body, including its Shareholders’ Meeting, thus counting on all-embracing protests.
White Star It is subject to the decisions of the supreme power of its Council, chaired by José de Jesús Mora Herrera, and not to the will of the partners.
There are around 600 shareholders that since last year have been affected by unilateral decisions by Mora Herrera, who has been excluding partners under the justifications and considerations that seem best to him.
The businessman has not even granted the minimum right to a hearing to his own partners, thus violating the basic human rights of the members of that commercial company.
This is the case of Martínez, who has a greater shareholding in the company, since in April 2021 he was excluded from the company, without any support; he was simply notified of his separation without having paid him a single penny of the value of his shares.
Martínez as treasurer complied with the delivery of accounting information necessary for the formulation of various financial statements prepared by the firm PWC as external auditor.
Luis Téllez, as president of Estrella Blanca’s Audit Committee and member of its Board of Directors, had the obligation to verify these financial statements.
As former president of the Mexican Stock Exchange, he presupposes extensive experience in corporate matters.
Now the shareholders of Estrella Blanca must be careful, since their permanence in the group depends on the content of its Board of Directors submitted by Mora Herrera.
It will be necessary to see that the value of its shares are not seriously affected by the situation that the bus company is experiencing.
Likewise, the transportation sector must be careful not to follow the example of the current president of the National Chamber of Passenger and Tourism Autotransport, José Lucio Rodríguez.
This is the secretary of the Board of Directors of Estrella Blanca, who is a participant in the arbitrariness of his partner Mora Herrera against other shareholders.
WE HAVE BEEN registering cases of workplace harassment in the Mexican Stock Exchange (BMV) for more than a year. Last week the group had a Board of Directors. Alfonso González Migoya, who chaired the Corporate Practices Committee and the Audit Committee of the BMV and was also an independent director of both the Stock Exchange and its subsidiary SIF ICAP, was relegated from all these functions: he is no longer a member of any board or of any group company. When analyzing the quarterly results, it is understandable why Marcos Martínez, president of the BVM and SIF ICAP, does not ask Gabriel Rodríguez, director of the latter, and who for years protected the acts of harassment discussed here. And it is that the subsidiary in charge of him is the one that contributes the most with the income of the Exchange. And it was precisely on the board of SIF ICAP, the star company of the financial report for the last quarter, where González Migoya most interacted with the company’s lawyer, Karen González, who recently resigned precisely because of the discomfort of dealing with harassing characters. She was on the side of the victims and distanced herself from any complicity with her boss, Rodríguez, but the “group establishment” did not allow her to do her job well and now she is withdrawing from it.
ARACELI BROWN FIGUEREDO, municipal president of Playas Rosarito, increased the pressures against businessmen and merchants who refuse to pay the flat fee. Yes: just as it reads. Despite public complaints and court orders against unjustified closures, the mayor of Morena commands, even with the police, to intimidate those who resist paying the millionaire extortions that she demands through municipal officials or strange figureheads dressed in civilian clothes. Playas de Rosarito is the most important municipality in the tourist offer of Baja California. Tourists from California and Arizona historically visit it for its beaches, surf breaks, food and nightlife. And, of course, for them to pay in pesos is very attractive. For this reason, in recent years the real estate industry has flourished with the construction of condominiums. Many individuals, mainly Americans, have invested their life savings in the purchase of condominiums to enjoy or rent through Airbnb. Not even they are saved. The argument to extort them is that they offer hotel service without the corresponding permit.
THE BANKING SECTOR is on tenterhooks ahead of Daniel Becker’s next succession as head of the Mexican Banking Association (ABM). And it is that after the call for supposed candidates that ran from October 10 to 14, only one registered: Julio Carranza, from Bancoppel. The credibility, prestige and corporate governance of the most important group in the financial sector could be in question if internal regulations are not respected.
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Among the same bankers it is commented that Carranza does not meet the minimum requirements or what the statutes dictate to be president. One of them is having been CEO or president of a bank or financial group and in the case of Carranza they do not occur, since the director of Bancoppel is Carlos Jack López Moctezuma Jassán. It is said that Carranza sought the support of Enrique and Agustín Coppel Luken in order to fulfill the requirement of being director of the bank, but that the Sinaloan businessmen rejected him. So technically Carranza cannot participate in the ABM succession process. Then then?
#Whitestar #Rebellion