EU Finalizes Probe Into Banco Popular Shareholder Dispute

Law360, London (December 20, 2019, 3:36 PM GMT) -- The European Union’s Single Resolution Board said Friday that it is finalizing its assessment of complaints from almost 3,000 shareholders and creditors of Banco Popular, who claim they were cheated out of compensation after the bloc sold the failing bank to Santander for a token €1 ($1.10).

The board, which manages the orderly resolution of failing banks within the EU, said it has finished reviewing the submission from 2,856 investors of Banco Popular Espanol who are exercising their “right to be heard.” The board is finalizing its decision on whether to compensate them.

The authority said that it will “strive to reach...

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