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.”

 

---

For all current news, visit our News home page.

---

 
Further information:

• Vatican bank goes to court over frozen funds (Financial Times)
• Vatican bank may challenge impounding of funds (CWN, 10/4)