Novo Banco: Supreme Court denies appeal to companies regarding the sale process in 2017

In a statement, the court said that it issued today a “judgment dismissing the appeal filed by P. River Birch Ltd. and River Birch March Fund Lp., and substantiating the claim made by the Resolution Fund and Bank of Portugal regarding its request to expand the appeal and, as a result, acquitted the Defendants, the Resolution Fund and the Bank of Portugal, in respect of all requests”.

Construtora states that part of the debt, in the amount of 78.3 million euros, will be amortized through the delivery of shares of five collective real estate investment firms