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English court strikes out another Novo Banco claim

By Kyriaki Karadelis

03 April 2019

English court strikes out another Novo Banco claim iStock.com/StockPhotosArt

The English High Court has struck out a fund’s claim against Portuguese bridge bank Novo Banco and its note-issuing affiliate, ruling it was “impossible to see” how bad bank Banco Espirito Santo’s default on an unrelated loan five years ago could give rise to one on their behalf.