DEFEX was engaged in foreign trade. Since it went into liquidation, the company carries out the activities which are normal for such a situation.
DEFEX, a state-owned company in which SEPI has a 51% participation, while the remaining 49% is owned by private partners, had as its corporate goal the promotion and export of Spanish goods and services.
In keeping with the proposal submitted by the Ministry of Defense, the Board of Directors of the Spanish state-owned industrial holding company Sociedad Estatal de Participaciones Industriales (SEPI), in the course of its ordinary meeting held on April 28th, 2017, resolved to request the authorization of the Council of Ministers for the Members’ Voluntary Liquidation of the DEFEX Company.
The resolution was adopted after an analysis of the situation of DEFEX and after observing the difficulties faced by the company for operating in the market as a result of the reputational damaged suffered and the protective measures taken in the course of the enquiry carried out by the court Juzgado Central de Instrucción nº 5 of the Audiencia Nacional.
Finally, the Council of Ministers authorized, on September 22nd, 2017, to proceed to the dissolution and liquidation of DEFEX. Then, DEFEX’s General Meeting resolved on October 10th, 2017 to dissolve the company, thus opening its liquidation period, dismissing its Board of Directors and appointing its liquidation body.