Bankruptcy and liquidation

Novobanco and Banco Best have been ordered by a court to return €200,000 plus interest to a saver whose investments were swallowed up by the 2014 BES bonds fiasco. The saver had unwittingly [...]

A letter that was sent to the European Central Bank and the European Commission by the Prime Minister “undermined confidence” and had a “detrimental effect” on the way troubled Portuguese bank [...]

The Resolution Fund, which was set up to provide financial lifelines to Novobanco, has questioned Novobanco on the sale of a hotel in Brazil. The former Sheraton Reserva do Paiva in Recife was [...]

A court has ordered that a closed real estate investment fund set up by the building developer José Guilherme should be declared bankrupt. In the summer of last year, the Portuguese Public [...]

Nearly 13,000 companies closed in Portugal in 2021, while 1,951 have begun insolvency proceedings in court. Nevertheless, the numbers are viewed as “relatively low” and below 2019 pre-pandemic [...]

The real estate fund Fundimo, which is managed by the State-run bank Caixa Geral de Depósitos, has requested that entrepreneur Alfredo Casimiro should be officially declared bankrupt. Casimiro, [...]