Greek Debt Writedown Can't Be Attacked in German Courts
- German Federal Court of Justice throws out bondholder suits
- Greece's government action immune from foreign jurisdiction
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Bondholders seeking to topple the 2012 debt writedown ordered by the Greek government can’t use German courts for their attack.
The Federal Court of Justice, Germany’s top civil court, threw out a lawsuit on Tuesday, saying it doesn’t have jurisdiction over the Greek government. The reduction to the bond value was ordered by the Greek council of ministers and based on a 2012 law, the court said in statement on its website.