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Subsequent to the formation of MTNV, several more
Netherlands Antilles companies were formed from 1983 through 1986
for use by the Spanish investors. The Spanish investors were
concerned about confidentiality and had the stock of all of the
corporations, including Inverspan and MTNV, issued in bearer form
to protect the identity of the shareholders. The Spanish
investors decided to protect their identities further by using
corporations to represent their interests. The corporations that
were created to represent the Spanish investors with their owners
were: Spectrust, N.V. (Spectrust)--Valiente (Valiente died in
1988, and Climent married Valiente’s widow and took control of
Spectrust); Promidux, N.V. (Promidux)--P. Montaner; Dapy, N.V.
(Dapy)--Kahne; Attractours, N.V. (Attractours)--J. Montaner
(P. Montaner, J. Montaner, and Kahne acted as a group in
representing and voting the shares of Promidux, Dapy, and
Attractours); Roundabout Tours, N.V. (Roundabout) (and later
Primavert, N.V. (Primavert))--Santandreu; Holiday Tours, N.V.
(Holiday)--Segui; and Wayout Tours, N.V. (Wayout)--Climent.
These corporations, each owned by a Eurotor shareholder,
were known as the Eurotor group of companies. After the
corporations were formed, the bearer shares of MTNV stock that
were owned by each of the Eurotor shareholders were transferred
to each shareholder’s respective Netherlands Antilles
corporation. After the stock transfers, the MTNV shareholders
consisted of the Netherlands Antilles corporations: Spectrust;
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