Facts about Mercuri Spain

December 2008.

MCR (63y), the local financial manager is fired with a severance pay of 155k €. She also agrees with the company to stay six more months with a net salary of 3200 € per month.
June 2009.

AF, the local accountant, is fired with severance pay of 45 days per year
June 2009.

The company communicates to all the employees that Mercuri Group decided to close the Spanish unit. Some employees received the promise to join a new company to be managed by the current country manager.

July 2009.

The company also decided not to assume some the payment of some providers like the rent of the offices, other rentings, cleaning services and a last bill of 6000€ of some furniture bought a few months before. This last case destroys the relationship with a company that has been client for the last 15 years with more than 500k € of investment with us. Other loyal providers during many years suffer the situation, some of them are small business.
Employees are asked verbally not to continue efforts to sell Mercuri Services.


July 2009.

Suzanne Lithander (CEO) communicates the decision to close the Spanish unit in the company global bulletin.
Nicole Demeroux (COO) has a meeting with the Spanish employees and there was an agreement of a compensation of 36 days per year. However the approval of the board is necessary.
The company presents a request in the local authorities of a dismissal program for all the employees.


September 2009.

The dismissal program is denied. The reason of the denial is malicious motives and the assumption that the local company is a unit of a international group.
The company presents a request to declare bankruptcy.
The company does not pay some providers however some others bills are paid, like important amount of fees and royalties to the group, marketing services from some providers, and a increases of 20% of the salary in kind of the country manager.


October 2009.

Authorities appoint a receiver (an official administrator) for the company.


November 2009.

The official administrator communicates the employees that there is no money to pay salaries and any other legal compensation for the ending of the labour relationship with any of the employees. He asked the Group about it and he received this answer from Nicole Demeroux:


-“MERCURI INTERNATIONAL GROUP AB has not been part of and has not received any notification on the subject of the Spanish issue. The Group is the owner of the majority of social capital of Mercuri International Spain, but no compensation should be requested from her due to this fact. The Group has been recommended by its legal services not to assume the requested dismissal compensations from employees. As Mercuri International Spain has an autonomous management, it is not understandable that an indemnity higher to the “legal” one-“

“Legal” means the charity amount mentioned in our previous communication) be requested.



TO PUT IT OTHER WORDS: MERCURI INTERNATIONAL GROUP WASHES ITS HANDS OF THE MATTER



Future:

The administrator will close the contract with the employees. Each employee will recieve a small single, nominal compensation payment from a public fund. In the next months Mercuri Group can be declared legally responsible for the amount of 3 million Euros.

WE the 11 employees of Mercuri International in Spain ARE GRATEFUL FOR the SUM TOTAL OF 160 years that we HAVE DEDICATED TO THIS COMPANY founded by two WISE men. However, we deeply regret that those solid values upon which the company was founded are not shared by the current management.