SIENA (Reuters) – In addition to causing a potential loss of 1 billion euro, an early closure by Mps derivative contract entered into with Nomura Alexandria weaken “hopelessly” action lawsuits.
You read in the letter sent on 18 February by the bank to the Milan prosecutors after the ECB has imposed, on February 10, the closing of the contract with Nomura by July 26.
In the letter, obtained by Reuters, it is stressed that “the restructuring activities of the bank has been closed and that, even today, some of these activities consists in the right of the bank to receive the damages suffered.” In this regard, “in the context of informal contacts occurred up to this time with Nomura, having received the request to quantify the negotiating basis for a possible transaction, the position taken (…) has been to require a total closure of the transaction in a manner that removes any uptake of current and prospective capital at no cost to the bank. “
In the letter the President Alessandro Profumo and the CEO Fabrizio Viola Pm to explain that the damage that the bank would suffer in the face of a voluntary early closure of the operation have already been highlighted in a specific memorandum to the ECB, which confirmed the its decision “unless they involve an experienced legal impediment in the future as a result of the civil remedy or ongoing criminal investigation.”
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