Prospects for Popular legal challenges are ‘pretty poor’

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By Jasper Cox
10 Aug 2017

Those who took losses when the Single Resolution Board (SRB) put Banco Popular into resolution and approved its sale to Santander are lining up to dispute the decision — but lawyers are sceptical over whether the claims can succeed.

The resolution on June 7 was the first time the SRB used its powers under the bank recovery and resolution directive (BRRD). The equity of Popular was written off, as were the additional tier one notes. The tier two bonds were converted into equity, but the bank ...

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