Brazilian banking group BTG Pactual Group denies any allegations of irregularities regarding the sale of União de Lojas Leader after a client said they were suing the bank for its failed investment in the retail chain, Valor Econômico reported.
In an official response to Brazil's Securities and Exchange Commission, CVM, BTG Pactual reportedly denied the accusations and said it has no interests in Leader nor is its creditor.
Earlier this month, it was reported that a client is suing the bank group over multiple alleged violations tied to BTG's investment in the retailer.
BTG offloaded its stake of about 70% in Leader in 2016 after it failed to prevent the retailer's bankruptcy.
