UPDATE 1-Portuguese court provisionally suspends Novo Banco bond transfer

April 28, 2016 4:28 PM

16 0

LISBON, April 28 A Lisbon court has provisionally suspended a central bank decision to transfer bonds from "good bank" Novo Banco to Banco Espirito Santo (BES), two Portuguese media outlets reported on Thursday.

TSF radio reported the court had set an injunction against the decision made by the Bank of Portugal in December, which has prompted a storm of complaints by investors since BES is a "bad bank" holding toxic assets and is being wound down.

Also read: Dow gains 100 points amid deluge of corporate news; real estate leads

Read more

To category page