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Banco Popular investors seek to overturn resolution in court hearing

( June 14, 2021, 10:07 GMT | Official Statement) -- MLex Summary: Spanish and Swiss investors in defunct Banco Popular are in court today, seeking to annul the EU's decision in 2017 to resolve the bank. The Fundación Tatiana Pérez de Guzmán el Bueno and Stiftung für Forschung und Lehre have brought a case against the Single Resolution Board, which is supported in its defense by Santander Group, by Spain, and also by the European Parliament, the Council of the European Union and the European Commission. The investors, who lost funds when Banco Popular was placed into resolution, have raised 10 pleas, including claiming breaches of several EU rules and arguing that there was no need for resolution.Statement follows. Report in French attached....

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