Greek Lender Says Loan Buyer's €34M Claim Lacks Weight

Law360, London (January 5, 2021, 3:55 PM GMT) -- Amoeba Issuer's €34.1 million ($41.5 million) suit accusing Piraeus Bank of breaching warranties when it sold the Irish company a portfolio of loans doesn't have enough detail to go forward, the Greek lender has said.

Piraeus Bank SA said in a Dec. 23 filing that it has no liability to Amoeba Issuer DAC, an Irish limited liability company, for allegedly breaching warranties on a package of loans totaling €414 million that it sold to the company in October 2014.

Amoeba brought a High Court suit against Piraeus Bank in October, alleging that warranties the lender gave to it before palming off...

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