Investors of Novo Banco threaten legal action at Bank of Portugal's imposition of EUR2 billion loss
Angry investors of Novo Banco threaten legal action should the Bank of Portugal push through with its plans to impose on them a loss amounting to EUR2 billion loss through the senior bonds. This recent decisoin by the Bank of Portugal goes counter to its prior agreement with Novo Banco which had been established as a healthy counterpart of the ailing Banco Espiritu Santo.