The Malta Independent 26 May 2024, Sunday
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BOV’s €35.9 million loan to now-bankrupt Steward raises questions for the PN

Tuesday, 7 May 2024, 18:24 Last update: about 18 days ago

Within the context of the involvement of substantial Bank of Valletta loans in the Steward hospitals deal, as well as Steward filing for bankruptcy, PN MPs on Tuesday called for BOV to promptly put its shareholders and clients minds at rest.

Following Monday’s news of Steward declaring bankruptcy in the USA, PN MPs reminded how the court sentencing of the fraudulent sale of three hospitals under Labour government involves Bank of Valletta (BOV) p.l.c.

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They added that hundreds of thousands of Maltese citizens trusted the bank with their money and even invested it with them, now, but according to the court sentence, BOV loaned €35.9 million to Steward.

The spokespersons said that for the sake of all these clients, as well as the Maltese financial system, the PN appealed to the bank to quickly clarify its position following the court sentencing.

“The institutions that have the duty to regulate BOV must make assurances that the law is obeyed in this regard”, they concluded.

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