NZ Super Fund's debt claim against Portuguese bank OK'd for UK court

Mon, 10 Aug 2015

By Fiona Rotherham Aug. 10 (BusinessDesk) - The UK Commercial Court has confirmed that the debt recovery case filed by the New Zealand Superannuation Fund and others against Portuguese bank, Novo Banco, can be heard in an English court. The case relates to a $199 million loan the New Zealand national pension fund made, and has since written off, to Banco Espirito Santo (BES) of Portugal by buying bonds in a Goldman Sachs entity. In February the NZ Super Fund said it had written off the investment in Oak Finance, a loan vehicle arranged...

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