The purpose of this newsletter is to discuss possible and potential claims that the clients of Banco Popular, S.A. (“Banco Popular”), both bondholders and shareholders, can file for the loss of value of their securities.
As is already known, after the stock market collapse of Banco Popular on 7 June 2017, the Fund for Orderly Bank Restructuring (“FROB”) reported the sale of Banco Popular to Banco Santander, S.A. (“Banco Santander”) for one 1 Euro. This decision was adopted by the Single Resolution Board (“SRB”) after the financial institution was declared non-viable by a third party, an independent expert.
With this information, and in accordance with the existing doctrinal and jurisprudential precedents in Spain, we can affirm that there would be legal mechanisms that would allow the affected investors to recover their money, under certain conditions.
The note in the link below is a first approach to the facts and the existing alternatives. Please contact any of the following partners at ALTALEX, SL in case you would like to further discuss this matter.