Vatican bank asks Italian court to release frozen funds
October 07, 2010
The Vatican bank, the Institute for Religious Works, has asked an Italian court to release the €23 million in funds that have been frozen by Italian banking authorities in connection with a money-laundering investigation.
The Vatican’s appeal to an Italian court may be unprecedented. Financial Times notes: “Veteran Vatican observers said they could not recall a previous case of the Vatican, a sovereign state, seeking redress through the Italian judicial system.”