I'm not really sure why the UCI haven't banned him after the CONI ban was ratified. Their own charter allows for it.
The second case is UCI vs. RFEC, which theoretically doesn't involve Valverde himself, but it's about RFEC not opening up an investigation against the Murcian. This is why, at present, Valverde can only be banned until May 11, 2011 or thereabouts. If the UCI win the case, then that doesn't mean that Valverde will therefore be banned, only that RFEC must open an investigation of him. If, as has been reported and denied and shown and repeated and obscured and so forth repeatedly, the Spanish legal system has closed the case (I don't know about the legal system side of it) then RFEC will not have any access to any new evidence that they didn't have back in 2006-7, and so I wouldn't be surprised if they exonerated Valverde again (while we're on the subject of corrupt federations exonerating stars, how many times has João Cabreira gotten away with it?!), and thus no fresh two-year ban could be forthcoming.