NZ Super Fund files English legal proceedings in Oak Finance matter

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Source: New Zealand Superannuation Fund – Press Release/Statement:

Headline: NZ Super Fund files English legal proceedings in Oak Finance matter

New Zealand Superannuation Fund confirmed today that it had filed debt recovery proceedings in the English courts against Novo Banco.

The Oak Finance investors will also shortly be filing public law proceedings in Portugal against the Bank of Portugal, challenging the validity of the Bank’s decision purporting to retransfer the Oak Finance loan, with retroactive effect, from Novo Banco to Banco Espirito Santo.

Ends

Editors: please note that further comments will be limited due to legal proceedings.

Media contact:

Catherine Etheredge, Head of Communications, NZ Super Fund, cetheredge@nzsuperfund.co.nz, +64 274 777 501

Glen Cameron, European media contact, +44 7500 058 202, glen.cameron@sweeneyvesty.com

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Selwyn Manning, BCS (Hons.) MCS (Hons.) is an investigative political journalist with 23 years media experience. He specializes in reportage and analysis of socioeconomics, politics, foreign affairs, and security/intelligence issues. Selwyn has extensive experience as a commentator and has provided live political analysis to a wide range of television and radio organizations broadcasting in New Zealand, Australia and globally including the BBC (Five Live, London) and BBC (World Service). He is currently a correspondent to Australia's FiveAA radio, and is a regular live-on-air panelist on Radio New Zealand's The Panel with broadcaster Jim Mora.

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