Banco Santander Fights Info Bid In NY For Spain Proceeding

By Caroline Simson (April 13, 2018, 4:47 PM EDT) -- Banco Santander SA urged a New York federal court on Thursday to turn away a group of Mexican former shareholders in Banco Popular Español SA seeking information needed for an upcoming arbitration against Spain, arguing their petition stretches the applicable statute "far beyond its breaking point."

Led by Mexican billionaire Antonio Del Valle Ruiz, the 55 investors asked the court last month to allow them to obtain discovery from the New York offices of Spanish bank Banco Santander SA and its affiliates, saying the information is needed to shore up an arbitration they intend to file against Spain and related EU...

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