Banco Comercial Portugues (BCP) has taken legal action against Mozambique, becoming the latest bank to pursue the heavily indebted East African state, which has been embroiled in a long-running $2 billion debt scandal.
A filing dated April 8 shows BCP has begun proceedings in London’s High Court against both the Mozambique government and state firm Mozambique Asset Management (MAM) related to general commercial contracts and arrangements also BCP is being represented by Enyo Law.
Mozambique’s Attorney General’s Office did not immediately respond to a request for comment on Thursday.
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