Popular bondholders lodge appeals

摘要

banco popular would have had sufficient funds to pay out all its bondholders, and generate a €3.4bn surplus for shareholders, under a managed insolvency over seven years, according to a report commissioned by creditors of the Spanish bank. Instead, all the lenders' investors were wiped out after it was resolved overnight in June 2017. Under that outcome rival santander agreed to buy the bank for €1 after Popular's junior bonds were converted into equity.