April 28, 2016 / 6:06 PM / 2 years ago

Bank of Portugal to challenge court injunction on Novo Banco bonds

LISBON, April 28 (Reuters) - The Bank of Portugal will challenge a provisional injunction by a Lisbon court that suspends part of the central bank-ordered transfer of bonds from state-rescued Novo Banco back to “bad bank’ Banco Espirito Santo (BES).

“There has been no definitive decision by the court,” the central bank said in a statement on Thursday, adding that the injunction does not affect Novo Banco assets.

“The administrative court provisionally issued a precautionary injunction concerning one series of bonds (PTBENKM0012) without hearing the Bank of Portugal’s position. The Bank of Portugal respects this provisional decision, but will immediately request that it be lifted.”

Reporting By Andrei Khalip

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