About 20 international funds holders of subordinated bonds BES, which already had advanced with lawsuits against the resolution of the bank, now released new lawsuits against the government and against the banking supervisors and the Portuguese market.
According advanced Lusa source close these institutional investors, the new processes relate to the claim of the right of access to administrative information related to public intervention in the institution.
These investors had for about two months put processes in the General Court of the European Union (TGUE) and the Lisbon Administrative Court against the European Commission and the Bank of Portugal (BoP) requesting the annulment of the resolution of operational measures to Banco Espírito Santo (BES).
Now, the complainants also broadened the spectrum of their lawsuits to the Ministry of Finance and the Securities Market Commission (CMVM), in order to have access, under Portuguese law, all the information enables them to understand a number of issues that led to the BES division into two entities, the ‘bad bank’ and the New Bank.
These investors are essentially foreign investment funds that make capital from various types investors such as public pension funds and university funds, which hold subordinated bonds BES issued late last year and whose value amounts to EUR 750 million.
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