The mayor of Sanlucar, Irene Garcia, has congratulated the
Cooperative Virgen de la Caridad, better known as CAYDSA, on the successful
outcome of its long drawn out battle to rescue itself from the Rumasa period
during which it was re-names Teresa Rivero. (Teresa Rivero is the name of Jose Maria Ruiz Mateos’ wife).
The mayoress pointed out that the bodega’s recuperation was not only good for
its members, but also for the very identity of Sanlucar.
Various branches of the Ruiz Mateos family had bought up the
shares in the coop in 2009, but the money had never materialised. After endless
court hearings, the coop members have now got back their shares as of the 11th
March. But there is a lot to do.
This is the oldest coop in the Sherry zone, and counts 700
members. Their problems are not all behind them yet as there are still
receivership matters to be dealt with, but the law is on their side. The
management committee is now working hard to re-establish profitability, and
with it, retention of jobs. They are also involved in trying to obtain payment
for wines sold in 2007 and 2009 to Ruiz Mateos, amounting to 1.5 million euros.
That will be fun.
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