Investors Pursue Debt Recovery Against Novo Banco and Bank of Portugal

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Institutional investors in Oak Finance, the vehicle that lent money to now-defunct Lisbon-based Banco Espírito Santo, are moving forward with debt recovery proceedings. The investor group filed debt recovery proceedings in English court against Novo Banco, the new bank entity that arose from Banco Espírito Santo. In addition, the investor group plans to file proceedings in Portugal against the Bank of Portugal. The investor group is backed by hedge funds, a sovereign wealth fund (others indirectly as hedge fund limited partners), a Danish pension, a private bank, the family office of the Lakshmi Mittal family and other investors.

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The investor group is made up of:[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]

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