The Bank of Portugal appeals the court’s decision of having to show the sale contract of Novo Banco

Page created: Friday, 5 January 2018 10:10 GMT

BdP  BES   Novo Banco  Portuguese Central Bank

The Bank of Portugal decided to appeal the Lisbon administrative court’s decision, which subpoenaed the institution headed by Carlos Costa to disclose the sale contract of Novo Banco, ECO knows. The request of access to the sale contract of the financial institution to the North American Fund Lone Star was made by 19 international investment funds which invested in subordinated bonds from BES, registering major losses with the bank’s resolution in 2014.