Goldman Sachs Enters Fight Over Portugal Debt Forgiveness

Goldman Sachs and the central bank of Portugal heading for a showdown over nearly $1 billion loan that looks like it won’t get repaid A dispute between Goldman Sachs and the central bank of Portugal has the New York investment bank on the wrong side of a debt dispute, having an €835 million loan placed in a “bad bank” toxic asset category where repayment is less than certain. Goldman was reported to have said it will “pursue all appropriate legal remedies without delay” after the Bank of Portugal rejected Goldman’s appeal. The decision in question placed a Goldman structured loan…