Vatican Bank claims "significant" damages in Maltese courts
Issue dates back to 2013, investments worth €17 million
The Vatican Bank has started a civil action before the Maltese judicial authorities against various third parties it has accused of causing "significant" damages in relation to investment transactions.
The bank, known formally as the Institute for the Works of Religion (IOR), instituted the action against four companies and two individuals following transactions in which it said it had participated. Two of the companies have Maltese directors.
Details about the case, revealed in a statement, issued by the Vatican's press office, are still sparse, but a Vatican spokesman told Times of Malta the issue dates back to the beginning of 2013 for investments initially worth €17 million. However, the damages have to be quantified by the Maltese courts.
"This action shows the bank's willingness to accept responsibility for past abuses," spokesman Greg Burke added.
"This initiative confirms IOR' s commitment, in the interest of transparency, to report to the competent authorities any potential abuses perpetrated against it and to take, as in this instance, any appropriate action to protect its financial and reputational interests, including outside of the Vatican City State."
https://www.timesofmalta.com/articles/view/20171010/local/vatican-bank-claims-significant-damages-in-maltese-courts.660083