(Adds PL statement)

The government will be analysing the National Bank situation in the interest of all, the Labour Party said in a statement.

It was replying to a statement by the Nationalist Party issued earlier today in which the PN welcomed the appeals court decision in favour of the shareholders of the National Bank and said that, in the light of this decision, the matter should be closed once and for all.

It recalled that over the past years tried to reach an out-of-court settlement to resolve this long-standing case. A number of offers had been made including one in the last legislature which had proposed a compensation of around €25 million.

"Regrettably, however, no agreement on an out-of-court settlement was reached."

The PN said it was ironic that this landmark decision had been delivered when the Labour Party was in government, given that this was an injustice created by the Mintoff government in the 1970s that had taken over the bank from the shareholders depriving them of their rights and property.

In a reply, the Labour Party said it was political hypocrisy and ironic that the PN, which  had spent 25 years in government and had not found a solution to the matter, was now appealing to the government to come to an out of court settlement as quickly as possible.

 

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