BES GES

Losses incurred by Banco Espírito Santo which collapsed 12 years ago in 2014 have dropped to €402.2 million. However, the bank which is in an ongoing liquidation process continues to be inundated [...]

An estate near Sessimbra in Portugal, which was in the hands of Novobanco, was sold at a knock-down price to the wife of one of the former managers of US firm Lone Star which holds a 75% stake in [...]

The president of Portuguese bank BPI, João Pedro Oliveira said in an interview this week that if Caixa Geral de depósitos purchases all or even part of Novobanco, it would be tantamount to a [...]

The former president of the KPMG auditing company, Sikander Sattar, took the stand on Tuesday in the BES/GES case accusing the banking group’s former accountant Francisco Machado da Cruz [...]

Authorities should have stepped in quicker over GES problems says banker – and refuses to discuss €100 million loan to ESI The Chairman of bank BPI, Fernando Ulrich, called the loss of [...]

Former GES boss Ricardo Salgado was a “compulsive liar” and tried to bribe lawyer Marcelo Rebelo de Sousa (Now Portugal’s President) with legal work, a Lisbon court has heard. The former and now [...]

José Maria Ricciardi, Ricardo Salgado’s cousin and former president of Banco Espírito Santo Investment (BESI), told judges at a Lisbon court yesterday that by December 2013 BESI was [...]

The Resolution Fund and Novobanco have now reached a “principle of understanding” for the early termination of the Contingent Capital Agreement (CCA), paving the way for the bank’s sale or [...]

One of the biggest and most media sensational trials of the past 10 years in Portugal into the collapse of the Banco Espírito Santo banking empire opened in Lisbon yesterday. The most infamous of [...]

This year marks 10 years since the collapse of the Banco Espírito Santo banking empire. David Sampson reflects on what went wrong with Portugal’s once most respected banking group. In 2006, [...]