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Report: Lisbon court provisionally suspends transfer of certain Novo Banco bonds

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Report: Lisbon court provisionally suspends transfer of certain Novo Banco bonds

A Lisbon court ordered Banco de Portugal to provisionally halt the of a series of bondsfrom Novo Banco SA toBanco Espírito SantoSA, the Financial Timesreported, citing the central bank.

This followed a request from 's Merrill Lynch tosuspend the bond transfer, the FTnoted.

The central bank said that it will immediately request thatthe provisionally suspension be lifted, though the decision would not have anyimpact on Novo Banco's assets. The central bank said it has 10 days to respond,adding that the court is yet to reach a definitive decision on the case and onthe validity of the provisional injunction, according to the report.

In December 2015, the Bank of Portugal asked Novo Banco totransfer five senior bonds to BES.