Supreme confirms ruling that can betray BPN victims

Couple contested decision that leaves investors on the verge of never getting money back. Complaint was dismissed.

The Supreme Court of Justice (STJ) confirmed the validity of a ruling that established jurisprudence, delivered in December, which leaves dozens of BPN victims on the verge of never being able to recover the money that, more than 15 years ago, they invested in the mistake in bonds and ended up losing. The decision could affect former clients of other banks with lawsuits in court.

The appeal to establish jurisprudence had been filed by a couple who, in 2006, invested 300 thousand euros in bonds of Sociedade Lusa de Negócios, then owner of BPN and in the meantime dissolved. Realizing that he had lost the money he had always thought was secure, he demanded to be reimbursed, in the form of compensation, by EuroBic, the bank that, as a BIC, had bought BPN in 2011, three years after its nationalization. He lost in the Civil Court, won in the Lisbon Court of Appeal and was defeated in the STJ.

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