LISBON: As the New Zealand Superannuation Fund lines up its own proceedings to try to recover a $200 million loan made to the bank, A Portuguese consumer association DECO has launched legal action to get compensation for small shareholders of the collapsed Banco Espirito Santo.
A Portuguese consumer association has launched legal action to get compensation for small shareholders of the collapsed Banco Espirito Santo as the New Zealand Superannuation Fund lines up its own proceedings to try recover a $200 million loan made to the bank.
DECO, a Portuguese association, says it has filed an administrative case against Portugal’s central bank, its government and its stock market regulator on behalf of BES’ smaller former shareholders.
The aim of the action, according to a translated statement from DECO’s website, is to get compensation for the financial institution’s small shareholders who suffered losses.
