Thursday, 10 March 2016

PORTUGAL ORDERED TO PAY 1,800 MILLION EUROS TO SANTANDER




Santander is a municipality and a Spanish port city, capital of the autonomous community and historical region of Cantabria situated on the Cantabrian coast, north of the country. Bounded by the municipalities of Santa Cruz de Bezana and Camargo, she closes the north bay of the same name and is part of the club of the most beautiful bays in the world.

However, Santander Totta is a bank!
A London court sentenced the Portuguese State to pay 1800 euros to Santander Totta. Concerned the "swaps" canceled by Passos Coelho Government and Maria Luís Albuquerque.

The bill for taxpayers of this court decision will be 1.8 billion euros, says the TSF. The sentence is not final and is subject to appeal.

At issue is the advanced process by Spanish bank - which recently received from the Portuguese State to much of the Banif - by unilateral termination decided by the previous government nine contracts "swaps" concluded between 2005 and 2007.

The case concerns nine swap contracts made by four public companies (Metro of Lisbon and Porto, Carris and STCP) of a velue 1.2 billion (market value at the end of the first half of 2015), writes TSF.

When, in 2013, the state considers them invalid, he ordered these companies to cease to pay the related interest Santander, which in June 2015 exceeded 230 million euros.

In a statement, Banco Santander Totta (BST) states that the Commercial Court in London - whose sentence was now known - "beyond [her] recognize overall ratio, also stressed that it was clear throughout the negotiating process that BST duly advised public companies at the time of conclusion of 'swap' contracts. "

Thank you for justice!

Saisi

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