Bank of Valletta refers to the item ‘Bank faces mounting damages over ill-fated fund’ (March 6), which incorrectly asserts that some form of settlement agreement has been reached out of court in relation to claims about the La Vallette Multi Manager Property Fund that were handled by Finco Treasury Management.

The correct version of events is that, following decisions on all claims made by the Arbiter of Financial Services on this matter, the bank filed an appeal, including on all claims handled by Finco Treasury Management. All appeals are currently sub judice.

No settlement agreements were entered into by the bank on any claims following the decisions of the arbiter, whether the claims were handled by Finco Treasury Management or otherwise.

Editorial note:
The out-of-court settlement mentioned in the article had nothing to do with the recent decisions handed down by the arbiter, which, as it was pointed out in the same item, the bank is appealing.