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If the EPB bank at Novo Bank is legally unfrozen then can EPB take the money back to Puerto Rico and refund customers some other way ? The 20 April website statement was obviously written by the Receiver. Either he was misled by Novo Bank about their cooperation, or worse he just assumed that...

I thought @Pschiff said last week that if nothing happened soon then EPB would go for an emergency ruling against Novo Bank to release the funds. But as you say, I'm sure we don't know the whole story.

Well yes you could be right that I might not be successful. I doubt we would get anywhere by going to Puerto Rico either. They will just blame it on Novo bank.

If the phone calls and emails to Novo Bank don't work then I am flying to Lisbon next week

I think the more emails they receive and the more time and irritation we cause them the better. It's all worth a try. Yes you are right that those in more powerful positions like the Receiver, OCIF, Qenta, Peter Schiff should all be pressing for a resolution with Novobanco too.

OK I have just spoken to Novo Bank in Lisbon. I explained the situation and they want EPB customers to write an email to [email protected] Explain the situation and it will be passed on to the department that deals with wire transfers. No idea if we will get replies., but it's worth a shot...

Unfortunately our attempts to communicate directly with Novo bank are simply likely to be met by " your account is with EPB, please contact them". This is especially the case at the "bureaucratic level". Somehow we have to get through to the higher levels of management. We have to keep...

We need to try to get access to higher up the command chain..I have tried calling too. Mark Bourke is the CEO at Novo Bank.

Last week they said it would be over by end April. So clearly something has gone wrong in the last few days or they didn't know what they were talking about last week.

So there's no legal, compliance or any other impediment now from Novo not to send out the wires ? So now there's no legal, compliance or any other excuse from Novo Bank but they are still not sending out the wires? This story just never seems to have an ending .

Well you have to remember that up until 22 February it was the Portuguese government that put the freeze on. Yes since then it has been Novo banco stopping us getting our money back. Why they are not processing the wire transfers , we as customers, don't know. But it seems that the Receiver...

I agree with you on the face of the evidence it looks sneaky and wrong. Whether it's "illegal" or not in Portugal I wouldn't know. There may be some compliance bulls**t aspect to their behaviour. Compliance departments can come up with all sorts of issues that we can't think of.

I have filled out one of the above complaint forms you posted. I am not sure how effective they will be but I guess it's worth a go. There are many different types of CEOs. You don't know this particular CEO and how he would react. I see he worked at Allied Irish Bank some time ago. They used...

I am sorry but I think trying to attack the CEO of Novo Bank in public is likely to be counter productive. It would immediately get his defences up. The CEO of Novo Bank may know nothing about this whole issue. Novo bank is pretty large. So it may not have come to his attention.

Well this is Portugal and Portugese law. I doubt either of us know much about Portuguese law. I think we need to calm down . All customers are as frustrated and annoyed as you are. Let's see if any constructive, reasonable, amicable progress can be made. Unfortunately we don't ever get any...

Shaming and getting aggressive in public isn't the best first option in my opinion. Hopefully EPB, the lawyer, Qenta or whoever can resolve this amicably with Novo Banco.

Actually Novo Banco's biggest shareholder appears to be a US private equity outfit called Lone Star

Well let's hope they can resolve the issues amicably so we don't have to resort to legal action. A long lawsuit would wipe out all our money in fees, EPB staff costs, the Receiver, etc. One of the best ways to put pressure on Novo Bank is to picket their headquarters. They won't like that . It...

Peter Do we know the reason why Novo banco won't process the wire transfers? Can Novo Banco simply refuse to process the wire transfers just because they no longer want to do business with EPB any longer? In which case how would customers get reimbursed ?

They will come up with some bulls#@t reason to withhold our money. Meanwhile we are now paying for the EPB staff, the Receiver, the lawyers and no doubt some other expenses. Novo figure they fancy some of the money too.