Espirito Santo group in bad shape for years and chief knew, MPs told. Banco Espírito Santo, S.A. is in the process of liquidation of its remaining assets. Ende Juli 2014 geriet die RioForte in eine Schieflage, da fällige Schuldverschreibungen nicht zurückgezahlt werden konnten. Another of the Espírito group of companies is facing liquidation in a financial scandal that led Portugal to bail out one of its biggest banks, Banco Espírito Santo. %PDF-1.7 Es wurde Gläubigerschutz nach luxemburgischem Recht beantragt und gewährt. The purpose of this website is to keep you informed about the development of the insolvencies and to provide general information. The €14 million is just a start as Ricardo Salgado, for example, has not yet been notified, so the total will increase. Banco Espírito Santo S.A. – Em liquidação- Public Traded Company - Head Office: Rua Barata Salgueiro, no. Resolution of Banco Espírito Santo, S.A. Sir, The Commission wishes to inform the Portuguese authorities that, having examined the information supplied by your authorities on the measure referred above, it has decided not to raise objections to the measure for the reasons set out below. RE. The Espírito Santo Financial Group (ESFG) is a Portuguese holding company with headquarters in Luxembourg, founded in 1984.The group represents the interests of the Portuguese Espirito Santo Group, which has major investments in Portugal and Europe, Americas, Africa and Asia.. Banco Espírito Santo, S.A. justified the abovementioned losses with several factors of an exceptional nature that occurred throughout the first half of the year, particularly in the last quarter (€3,488.1 million). Luís Carvalho Member of the Liquidation Committee at Banco Espírito Santo S.A. Frankfurt am Main und Umgebung, Deutschland 500+ Kontakte The liquidation commission claims that these directors were responsible for the bank's collapse and an overall loss of €5.9 billion. %���� ESFIL schuldet der Banco Espirito Santo 480 Millionen Euro. Espirito Santo Bank in Panama and the collapse of the Espirito Santo Group. Banco Espirito Santo (EU:BES) Historical Stock Chart. The first part focuses on the resolution measure, namely the reasons that have led Banco de Portugal to decide to apply it, and a description of the facts occurring during the preceding week. Unless developed country foreigners like the US Vulture Lone Star are behind this liquidation it will get no where. endobj Fields marked with an asterisk (*) are required. You have declined cookies. LISBON—The "bad bank" left by the collapse of Banco Espí rito Santo SA Friday reported negative equity of €2.42 billion ($2.64 billion) as of August last year, a strong indicator that most investors will suffer big losses on investments related to the bank. This decision can be reversed. Nachrichten zur BANCO ESPIRITO SANTO Aktie - Aktuelle TOP-Meldungen - Die wichtigsten BANCO ESPIRITO SANTO News im Überblick - seriös, schnell und kompetent. Liquidators of the bankrupt bank, Banco Espírito Santo, are to chase former directors for €14 million due to ‘irregularities’ committed prior to the bank’s rescue by taxpayers. This decision can be reversed. 1. The defence presented by Goldman Sachs at the Lisbon Commercial Court, where the BES liquidation is taking place, the payment of interest and commissions is normal practice in international finance and linked to the remuneration associated with a loan of that magnitude. x���R�H��*���V��B}�4�� From Jun 2015 to Jun 2020. <>/Metadata 138 0 R/ViewerPreferences 139 0 R>> Goldman Sachs picked up €50 million in interest and €54 million in commission for arranging the loan. L’Etat portugais intervient pour sauver la banque portugaise Banco Espirito Santo, en faillite depuis quelques jours. You have allowed cookies to be placed on your computer. The former directors all have challenged the liquidator’s claim. BES liquidators demand €14 million from former Directors 09 April 2019 Liquidators of the bankrupt bank, Banco Espírito Santo, are to chase former directors for €14 million due to ‘irregularities’ committed prior to the bank’s rescue by taxpayers. The Liquidators will have been hand picked as friends and family of the very people they are supposed to be chasing. <> PU. The liquidation commission concluded that the former directors had, "carried out acts of dissipation or concealment of their assets" as well as acts that “diminished, frustrated, hampered and / or delayed BES creditors.”. Those still to be named are Ricardo Salgado, Manuel Fernando Espírito Santo Silva and Pedro Matos Silva. 2 0 obj Reconsider Cookies It was held partly by its Luxembourg parent, Espírito Santo Financial Group SA, and Crédit Agricole, the latter holding over 14.6% of its capital. But, if a billion is a thousand million, then this €14 million represents about 0.2% of the actual losses. Banco Espirito Santo liquidation. Afin de permettre au liquidateur d’adresser des communications à l’intention de tous les créanciers de Banque Privée Espírito Santo SA en liquidation, les clients de BPES (notamment les clients en banque restante) sont priés de faire parvenir au liquidateur de BPES (par email ou par courrier à l’adresse susmentionnée) une adresse de correspondance à laquelle des communications peuvent valablement … 3 0 obj The “Banco Espírito Santo” (BES) was oldest and one of the largest Portuguese banks: it was created in 1869, precisely at the same year that Goldman Sachs was founded, and it was resolved in 2014.The present paper aims to briefly explain how a centenary bank, that survived to two World Wars, prevailed over different political regimes (Monarchy, Republic, a Revolution), and endured diverse … Seitdem befindet sich Rioforte in Auflösung und stellte einen der Gründe für den Niedergang der Banco Espírito Santo dar. In August, the Central Bank of Portugal gave Banco Espirito Santo a lifeline, providing a state bailout of roughly $6.5 billion and splitting the lender into a "bad bank/good bank" model. 1 0 obj �I�M N�Cj�ػ�&������}ا��=�d�fI�v�–Z-�K�>wy�pV�n�A�޼�?,�|0,�����iYN�����v_��oG��M'��W%�L�e1;8`G�]�z�l�������wE~�x���K�n�;_vw:q�?�$��y*9g:SQfX�x� 6+vw~�+���8��`1��q�Td�,c��H��nwg��.�-4;���H#M���\�>�í'�q���7�;��aJ�(5,��Ȥ��Wna��ˌ����������wvDp����������ߏ�`\E�z��bE��B�(�2�Ax0��5�.��n*�'�,��f&n�� q� ,�X��L?�Î&�x0 ;:`=���*���?C�F� J��v c�.��G�p�(�m���&q��&��:�L�J��4��!O��xv��~. stream Les actifs toxiques de la banque seront isolés. By using our website, you agree that we can place these types of cookies on your device. Banco Espírito Santo (BES) was a Portuguese bank based in Lisbon that on 4 August 2014 was split in two banks: Novo Banco, which kept its healthy operations, and a "bad bank" to keep its toxic assets. Change Cookie Consent Le 19 septembre 2014, l’Autorité fédérale de surveillance des marchés financiers (FINMA) ordonne la mise en faillite immédiate de la Banque Privée Espírito Santo (BPES). Grupo Banco Espírito Santo (GES), Lisbon, 17 November 2014. Represents several institutional senior bondholders in the judicial liquidation of BES Bank following its resolution. <>/ExtGState<>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC/ImageI] >>/MediaBox[ 0 0 594.96 841.92] /Contents 4 0 R/Group<>/Tabs/S/StructParents 0>> Among them are Amílcar Morais Pires, José Maria Ricciardi, Joaquim Goes, António Souto, João Freixa, Jorge Martins, José Manuel Espírito Santo, Pedro Mosqueira do Amaral, Ricardo Abecassis, Rui Silveira, João Faria Rodrigues and Stanislas Ribes. The company is listed on the NYSE Euronext and the London Stock Exchange. endobj This website uses cookies to manage authentication, navigation, and other functions. Banco Espírito Santo SA (“BES”) is a publicly traded universal financial services company headquartered in Portugal, the largest Portuguese listed bank by market capitalization and the second largest private-sector bank by total assets. The Dubai bank’s future appeared increasingly bleak after Banque Privee Espirito Santo (BPES), a Swiss-domiciled bank also owned by Espirito Santo Financial Group and … Mais les actionnaires devront mettre la main à la poche. BANCO ESPIRITO SANTO : Release concerning the disclosure of the annual report a.. PU. Nachrichten zur Aktie Banco Espirito Santo SA Unsponsored American Deposit Receipt Repr 1 Sh | A0YGQT | BKESY | US0595841026 Das Unternehmen hielt (per Ende 2012) folgende Unternehmensanteile: 99,33 % an Banque Privée Espirito Santo (BPES), Schweiz Well, it´s a start, I suppose. ESPIRITO SANTO INDUSTRIAL S.A. EUROAMERICAN FINANCE S.A. endobj Welcome to the website of Banco Espírito Santo - London (UK) FAQ » Banco Espirito Sato Bank of UK is a United Kingdom banking and financial services corporation headquartered in London, UK, Branch in Portugal (Fixed Income)A bond is a financial instrument (security) used by corporates and governments (Issuers) to borrow money from investors. Banco Espírito Santo, S.A. (“BES”) is under liquidation, following the withdrawal by European Central Bank of the license for the pursuit of banking activity, which produces the effects of the declaration of insolvency and establishes the entry into liquidation of the institution. 2014. <> BANCO ESPIRITO SANTO : Release concerning the acquisition of qualifying holding. 4 0 obj You must be a registered user to make comments.Please register here to post your comments. 2015. La Banco Espirito Santo SA em Liquidacao (BES) est une banque basée au Portugal. In August 14, 2014, the Superintendency of Banks of Panama issued an official resolution ordering the compulsory liquidation of Espirito Santo Bank in Panama, highlighting the following facts: 1) The Espirito Santo Bank of Panama belongs and is fully consolidated by a financial group (ESFG) headquartered in … BES's liquidation commission already has notified 15 former bank administrators that it wants €14 million for distribution to creditors and €90 million related to interest and commissions of the loan granted by Goldman Sachs International to BES in 2014. The liquidation commission also is demanding money from Goldman Sachs, which advanced an €835 million loan when it was clear that BES was insolvent and close to collapse. Banco Espírito Santo S.A. – Em liquidação- Public Traded Company - Head Office: Rua Barata Salgueiro, no. 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