27.02.2015 - Super Fund confirms Portugal bank legal case
The New Zealand Superannuation Fund has confirmed this morning that it has filed debt recovery proceedings in the English courts against the Portugese bank Novo Banco. It added that Oak Finance investors "would also shortly be filing public law proceedings in Portugal against the Bank of Portugal, challenging the validity of the Bank's decision purporting to retransfer the Oak Finance loan, with retroactive effect, from Novo Banco to Banco Espirito Santo." Its litigation against the Portuguese central bank, the Bank of Portugal, could end up before the European Court of Justice, said the fund's chief executive, Adrian Orr...............................................Full Article: Source
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