Which authority is recorded against Banco Espírito Santo S.A. (resolved)?

The entry is recorded against Banco de Portugal / Lisbon criminal court, in the Portugal jurisdiction, under the theme Group funding · investor disclosure.

What is the current status of this entry?

Status: Trial in progress. Last recorded change: 24 October 2024. The matter arose or was first recorded on 3 August 2014.

How was this matter brought to light?

Supervisory action, then criminal prosecution. Each statement in the entry reflects material already published by a named source; nothing beyond those sources is asserted or inferred.

Where can the primary sources for PT-2014-01 be checked?

The entry links to Reuters — Bank of Portugal rescues BES, 3 August 2014.

PT-2014-01 · Portugal · 2014

Banco Espírito Santo resolved by the Bank of Portugal; the criminal trial continues in Lisbon

The central bank resolved the lender in August 2014, splitting it into a bridge bank and a residual entity. A large criminal trial concerning the group's funding and the sale of its debt to retail clients continues in Lisbon; defendants deny wrongdoing.

Lisbon bank headquarters at dusk, illustrating the Espírito Santo resolution — Illustrative image · Banco Espírito Santo S.A. (resolved)

Institution: Banco Espírito Santo S.A. (resolved)
Authority: Banco de Portugal / Lisbon criminal court
Status: Trial in progress
Theme: Group funding · investor disclosure
Raised by: Supervisory action, then criminal prosecution
Jurisdiction: Portugal
Matter arose: 3 August 2014
Last recorded: 24 October 2024
Amount: EUR 4.9bn resolution-fund capitalisation

What the sources record

The Bank of Portugal announced the resolution measure on 3 August 2014 with EUR 4.9bn of resolution-fund support.

Charges were brought against former officers in 2020 and the trial opened in Lisbon in 2022.

The presumption of innocence applies to every defendant.

Timeline

2014-08-03
Bank of Portugal announces the resolution of the bank.
2022-07-01
Criminal trial opens in Lisbon.

Primary sources

Reuters — Bank of Portugal rescues BES, 3 August 2014

Questions and answers on this entry

What does register entry PT-2014-01 record?: Banco Espírito Santo resolved by the Bank of Portugal; the criminal trial continues in Lisbon. The central bank resolved the lender in August 2014, splitting it into a bridge bank and a residual entity. A large criminal trial concerning the group's funding and the sale of its debt to retail clients continues in Lisbon; defendants deny wrongdoing.
Which authority is recorded against Banco Espírito Santo S.A. (resolved)?: The entry is recorded against Banco de Portugal / Lisbon criminal court, in the Portugal jurisdiction, under the theme Group funding · investor disclosure.
What is the current status of this entry?: Status: Trial in progress. Last recorded change: 24 October 2024. The matter arose or was first recorded on 3 August 2014.
How was this matter brought to light?: Supervisory action, then criminal prosecution. Each statement in the entry reflects material already published by a named source; nothing beyond those sources is asserted or inferred.
Where can the primary sources for PT-2014-01 be checked?: The entry links to Reuters — Bank of Portugal rescues BES, 3 August 2014.

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