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The Bank of Portugal has confirmed that the handing over of Novo Banco will take place “within the deadlines foreseen” thus leaving open a completion date which has never been fixed.
The latest upset to the lengthy and fraught handover, with 75% of Novo Banco due to be given away to the notorious US vulture fund, Lone Star, is Banco Comercial Português which has filed a lawsuit over the call on its own funds to support Novo Banco should it’s assets turn from gold to dust after the transfer.
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