JINUR S.A. had 950 million pesetas in fully paid-up capital in 1994, when Maricarmen Abascal was a member of its board. Its business included investing in property and renting it out.
The Spanish government named its decree against evictions after a woman who had been removed from a rent-controlled home in Madrid’s Retiro district after 20 years. María del Carmen Abascal Martín had served on the board of JINUR S.A., a property company with 950 million pesetas in capital in 1994.
The company’s registered purpose covered property investment and rental, alongside the development and subdivision of plots. Its capital was fully subscribed and paid up, according to the company statutes deposited at the Madrid Mercantile Registry and accessed by OKDIARIO.
The amount was equivalent to €5.7 million at the official exchange rate. Adjusted for inflation accumulated since then, it is around €12 million in today’s money.
JINUR’s statutes divided that capital into 950,000 bearer shares, each with a nominal value of 1,000 pesetas. The shares were numbered consecutively, and the document said they had all been fully subscribed and paid for. The capital therefore represented money contributed in full, rather than a figure stated only on paper.
Bearer shares did not identify their owners under the Spanish commercial law in force at the time. Ownership belonged to whoever physically held the share certificate, so the identity of the company’s actual owners did not have to be publicly visible.
The statutes also set out how certificates were to be issued: in numbered counterfoil books and signed by two administrators. One signer had to be the chairman of the board. The signatures could be mechanically reproduced, and shareholders could receive provisional certificates until the definitive shares were printed and delivered.
Abascal was appointed a JINUR director at a Universal Shareholders’ Meeting on 1 July 1994, alongside three other board members. She also served as vice-secretary. The four had come from FIEBA S.A., an investment company that merged with JINUR and shared its registered address at 36 Calle Pradillo in Madrid. Abascal had previously been listed as FIEBA’s sole administrator for several years.
JINUR’s board accepted her departure as vice-secretary on 1 July 1995. In 2000, JINUR’s name disappeared after the company merged into BASCADI S.A., another property investment firm.
