Bank of Valletta plc - Update on Property Fund Appeals

On 19 December 2019, Bank of Valletta plc issued an announcement with respect to a previous company announcement dated 14 March 2018 whereby it was revealed that BOV and BOV Asset Management Limited (BOVAM) had filed an appeal before the Court of Appeal (Inferior Jurisdiction) from the decision given by the Arbiter for Financial Services in relation to a number of La Valette Multi Manager Property Fund (LVMMPF) claims.

BOV explained that on 16 December 2019, the Court of Appeal delivered a judgement whereby it upheld the appeals filed by the Bank and BOVAM in a number of cases.

BOV also informed the market that a number of other cases are yet to be decided.

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