By Tom Beardsworth, Bloomberg News
A group of Banco Popular SA bondholders hired Quinn Emanuel Uruhart & Sullivan LLP to challenge a forced write down of the Spanish lender’s junior debt, according to a statement from the law firm.
Pacific Investment Management Co., Anchorage Capital Group, Algebris Investments and Ronit Capital are among the investors, which held a “material percentage” of Banco Popular’s additional Tier 1 and Lower Tier 2 bonds, the firm said in the statement.
Regulators forcibly sold Banco Popular to Banco Santander SA on June 7, wiping out about 2 billion euros ($2.3 billion) of junior bonds ...
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