Kuwaitis join ‘big hitter investors’ going after Bank of Portugal

The €2 billion ‘bond dump’ sneaked into the festive season three years ago is still enraging ‘big hitter investors’ who lost millions in the wake of the BES financial collapse. Latest news is that Kuwaiti investment funds have joined forces with Pimco et al to mount yet another legal challenge to try and get their money back. The moves centre on showing up Bank of Portugal for acting ‘incorrectly’ – arguments being that the central bank failed to treat investors equally (click here) and came up with the plan for the dump ‘retroactively’.

Bearing in mind that BdP has “gotten away with it so far”, the jury’s out on how much of a chance this latest bid, mounted against the Portuguese State, can conceivably have.

natasha.donn@algarveresident.com