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Provider: Thomson Reuters StreetEvents
Provider: Thomson Reuters StreetEvents

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Banca Monte dei Paschi di Siena SpA Announces Mps Foundation to Start Legal Proceedings Against Nomura Holdings Inc, Deutsche Bank AG and Former Management of Banca Mps

Monday, 8 Jul 2013 05:30am EDT 

Banca Monte dei Paschi di Siena SpA announced that in its meeting on July 5, 2013, chaired by the Foundation's Chairman, the governing body, Deputazione Amministratrice, of the Monte dei Paschi di Siena Foundation, after having voted lately for the liability actions and claims for damages brought by Banca Mps before the Court of Florence respectively against Nomura Holdings Inc and Deutsche Bank AG, as well as against the former management of Banca Mps, has thoroughly considered the possibility of taking action against the same parties to recover direct damages incurred. The review was primarily based on the Banca Mps Directors' Report submitted to the shareholders, which contains a description and technical analysis of the transactions named Alexandria and Santorini put in place by the respondents in the case filed by the Bank. Having gained conviction that the information made public by Banca Mps reveals that the prerequisites exist for taking action to protect the Institution, the Deputazione Amministratrice, has resolved to authorize the Bank's Chairman and General Manager to take, in due time as required, any legal action for protection before any relevant judicial authority. At the same time, the Foundation has decided to join Banca Mps in the lawsuits filed and has authorized the Chairman and General Manager to take action, whereby the Institution will add its own considerations on the matter, in its interest and in support of the claims filed by the Bank. 

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