EU Court of Justice opens door for Greek lawsuits

Europe’s highest court paved the way for hundreds of bondholders to sue Greece in Germany after they were forced to take big losses on their investments in 2012.

Judges at the EU Court of Justice said there was nothing to indicate the lawsuits by Germany-based investors were “manifestly outside” the scope of EU law. “The road is free and we can now go ahead and sue,” said Olaf Hoepner, a lawyer who represents at least 260 claimants in pending cases.

“The first big hurdle has now been overcome, next comes the question whether Greece can claim immunity.”