Nix Banco Popular Investors' Bid For Docs, 2nd Circ. Hears

Law360 (January 23, 2019, 8:37 PM EST) -- Spain's largest bank urged the Second Circuit on Tuesday to nix a bid by former investors in Banco Popular Español SA and two fund managers to obtain information for use in legal proceedings over Banco Popular’s 2017 sale, arguing that the petitioners are asking the court to stretch the applicable statute too far.

A group of 55 investors led by Mexican billionaire Antonio Del Valle Ruiz, Pacific Investment Management Co. LLC and Anchorage Capital Group LLC had asked a New York federal court in separate lawsuits last year to allow them to obtain discovery from the New York offices of Banco...

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