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BBVA Demands that the State and Blackstone Share the Expenses Associated with the Floor Clauses

The bank has filed a lawsuit against the Frob and one of Blackstone's funds to force them to share the expenses generated by the Catalunya Caixa floor clause cases.

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BBVA’s headquarters in Las Tablas (Madrid).

BBVA has filed a claim through the courts for the State-controlled Fund for the Bank Restructuring (the Frob) and Blackstone to bear some of the costs of the rulings against it in the floor clause cases corresponding to Catalunya Banc.

Specifically, the entity chaired by Carlos Torres has asked the courts to decide who should take charge of these lawsuits, according to details contained in the public company’s accounts to which El Confidencial has had access. BBVA is demanding to share the expenses with both the Frob and the securitisation fund that acquired the toxic mortgages from Catalunya Banc, which is controlled by Blackstone. The Frob does not reveal how much is at stake in its accounts, but mention is made of an “indeterminate and indeterminable amount”.


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