Edition:
United Kingdom

Pharol informs on potential court action by insolvent Espirito Santo International


Wednesday, 15 Nov 2017 

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.