VZMD
PRESS RELEASE JUL 21, 2016 14:37 CEST
Luxembourg City, Luxembourg, July 21, 2016 (Newswire.com) -The PanSlovenian Investors' & Shareholders' Association (VZMD), has been fighting on behalf of investors expropriated as part of the Slovenian bail-in for the past 30 months. The European Court of Justice (CJEU) supported these expropriated junior investors, including retail investors, in its July 19, 2016 judgment.
Ruling may support central bank following police raid
EU court backs burden sharing as condition of state aid
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The European Union’s highest court ruled that Slovenia broke no laws when it imposed so-called “burden-sharing” in the 2013 banking rescue that wiped out about 600 million euros ($664 million) of bondholder debt.
The ruling may lend support to the euro member’s central bank, led by Governor Bostjan Jazbec, after it was raided by Slovenian police earlier this month on suspicion of wrongdoing during the bank rescue. The 3.2 billion-euro bailout was engineered during the European sovereign-debt crisis by Jazbec and then Prime Minister Alenka Bratusek’s cabinet to save the Adriatic nation from having to ask for an international aid lifeline like those taken by Greece and Ireland.
