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Resolution Authority Mulls Spanish Bank Compensation

Law360, London (June 13, 2018, 2:10 PM BST) -- The Single Resolution Board said Wednesday it has begun assessing whether shareholders and creditors of Banco Popular Espanol are eligible for compensation after the European Union authority agreed to sell the firm to Banco Santander SA in June 2017.

The SRB, which was created in 2015 to save failing banks, said it is required under EU regulation to make sure its resolution action complies with a “no creditor worse off” principle. The board confirmed it is preparing its decision on Banco Popular after Deloitte — the appointed...
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