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the MTNV castle in Florida, but they rejected the idea because of
the expense.
The Spanish investors needed a vehicle in which to invest
and travel to the United States because it was illegal under
Spanish law for Spanish citizens to invest in the United States
without permission from the Spanish Government. The Spanish
investors formed Europea de Espectaculos, Cenas y Torneo
Medievales, S.A. (Eurotor), in Spain on September 1, 1982, for
the purpose of carrying out, among other objectives, the
promotion and development of public entertainment either in Spain
or abroad. Eurotor’s original shareholders were the Spanish
investors: Climent, 25 percent; Valiente, 12.5 percent;
Santandreu, 12.5 percent; Segui, 12.5 percent; J. Montaner,
12.5 percent; P. Montaner, 12.5 percent; and Kahne, 12.5 percent.
Of this group, only J. Montaner and Climent were shareholders of
TM, which operated the show in Benidorm.
In approximately November or December 1982, Eurotor
requested permission from the Spanish Government to invest in the
United States. Permission was granted in March 1983. The
Spanish investors had earlier chosen to invest in Inverspan and
MTNV without reporting their investments to the Spanish
Government. They chose not to report because they believed the
process was complicated and difficult and because they thought
the response from the Spanish Government would be negative.
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