Subordinated bondholders that were bailed-in as part of the ‘textbook’ resolution of Banco Popular last summer have opened up a new front in their legal efforts to either get the decision annulled or, failing that, get compensation for their losses.
Two groups of investors have now made court filings in New York seeking information from the purchaser of the stricken bank – Banco Santander.
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It was perhaps only a matter of time before the bailed-in investors decided to go down this route.
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