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BRIEF-Pharol informs on potential court action by insolvent Espirito Santo International
November 15, 2017 / 11:16 AM / 4 days ago

BRIEF-Pharol informs on potential court action by insolvent Espirito Santo International

Nov 15 (Reuters) - PHAROL SGPS SA:

* INFORMED ON TUESDAY ON POTENTIAL COURT ACTION BY ESPIRITO SANTO INTERNATIONAL (“IN INSOVENCY”) (ESI)

* SAYS RECEIVERS OF ESI DECLARE THAT SUCH INSOLVENT ENTITY WILL FILE A COURT ACTION AGAINST PHAROL, CLAIMING REIMBURSEMENT OF 750 MILLION EUROS

* SAYS THE RECEIVERS OF ESI DO NOT DISCLOSE THE REASONS FOR SUCH REQUEST

* SAYS DOES NOT OWE ANY AMOUNTS TO ESI AND WILL WAIT TO BE NOTIFIED OF THE ANNOUNCED COURT ACTION

* SAYS HAS A CREDIT OVER RIO FORTE SA (“IN INSOLVENCY”) FOR THE AMOUNT OF 897 MILLION EUROS, WHICH HAS BEEN DULY CLAIMED WITH THE INSOLVENCY RECEIVERS IN LUXEMBOURG

Source text: bit.ly/2zZ7iP3

Further company coverage: (Gdynia Newsroom)

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