Automatically translated from Basque, translation may contain errors. More information here. Elhuyarren itzultzaile automatikoaren logoa

Philip VI.ak renounces his father's inheritance after the Saudi Arabian payments scandal

  • The king will leave Juan Carlos I, his father and emeritus monarch, without funds from the General State Budgets for the part he charges from the General State Budgets.

16 March 2020 - 11:17
Felipe VI.a eta Juan Carlos I.a. Argazkia: eldiario.es.

The House of the King announced the news on March 15 of this year. The publication Eldiario.es has explained that the king of Spain will not receive the inheritance of Juan Carlos I.aren, which means that "he will not receive any kind of assets, investment or financial structure, if its origin, characteristics or purpose may not coincide with the legality".

The note points out that Felipe VI.ak learned a year ago that he could be a beneficiary of the Lucum Foundation after the death of the Emeritus monarch Juan Carlos. The information came to the king through a law firm in Britain. The office is Kobre & Kim and represents the interests of the former couple of king emeritus Corinna Larsen.

According to the newspaper The Telegraph, Felipe VI appears as the second beneficiary of the Lucum offshore Foundation and holder of the bank current account in which it is estimated that there are 100 million dollars that Saudi Arabia donated to the king's father. The Swiss prosecutor's office is investigating the case by considering that these $100 million were charged as commission by the king emeritus for the works of the AVE trains of Mekara. This work involved a consortium made up of several Spanish companies.

The director of Eldiario.es, Ignacio Escorial, has published an opinion article on the news and has published, among other things, two considerations. On the one hand, if the king knew since March 2019 that his father had an offshore financial structure, why had he not earlier expressed the measures he had taken? Why hadn't I said before that foundation existed? On the other hand, the Civil Code has put two details on the inheritance on the table: it is only possible to give up the inheritance when the heir dies, and only part of the inheritance cannot be rejected.

 


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