Victims of Greek bail-out get chance of class action - Telegraph

Victims of Greek bail-out get chance of class action - Telegraph

Grant & Eisenhofer (G&E), one of the US’s top investor rights law firms, has struck an alliance with Boston-based Kyros Law to help investors pursue cases both within Greece and elsewhere.

Kyros’s new Athens office is already co-ordinating the claims of thousands of angry bondholders, who took a 53.5pc upfront haircut on their investments in 2012’s restructuring of all Greek public debt held by private creditors.

The Private Sector Involvement (PSI) deal was aimed at cutting Greece’s public debt by €110bn (£95bn), but has given rise to claims against the Greek government, banks and institutions involved in selling Greek bonds.

G&E is renowned for its bold approach to investor litigation. Its previous scalps include leading European institutions to a settlement worth more than $500m (£322m) from Shell after the oil giant overstated its oil reserves and a $110m claim relating to the Parmalat scandal

Good luck with that. The list of lawyers and plaintiffs is pretty eye opening.