Event Publicly Available Information:
BES’s healthy assets have been acquired by a small Portuguese bank rescue fund bolstered by EU and IMF loans left over from Portugal’s international bailout, Carlos Costa, governor of the Bank of Portugal, said on Sunday night. http://www.ft.com/cms/s/0/f1a56358-1b5b-11e4-a633-00144feabdc0.html#axzz39PYtHVdH http://www.bloomberg.com/news/2014-08-03/portugal-takes-over-banco-espirito-santo-in-6-6-billion-bailout.html
Press article
http://www.bportugal.pt/en-US/OBancoeoEurosistema/ComunicadoseNotasdeInformacao/Pages/combp20140803.aspx
Government Press Release
| Date | Description | Document |
|---|---|---|
| Closed | EMEA Determinations Committee Decision 08/08/2014 August 8, 2014: The EMEA DC met on Friday 8 August 2014 to discuss the DC Question and, based on best available information including confirmation from Banco de Portugal that more than 75% of all bonds and loans, which the DC decided would constitute Relevant Obligations, had been transferred to Novo Banco S.A., resolved that a Succession Event had occurred with respect to Banco Espirito Santo S.A
| |
| Ongoing | EMEA Determinations Committee Decision 06082014 August 6, 2014: The EMEA DC met on Wednesday 6 August 2014 to discuss the DC Question and agreed to meet again on Friday 8 August 2014, to allow further time to seek information regarding the percentage of Relevant Obligations transferred. | |
| Ongoing | August 5, 2014: The EMEA DC met on Tuesday 5 August 2014 to discuss the DC Question and resolved to meet again on 6 August 2014 to continue discussions, in order to allow more time to collate information concerning this event. | |
| Request Accepted by DC | Pursuant to the standing resolution passed by the EMEA Determinations Committee (DC) on June 21, 2010, the first meeting of the EMEA DC to deliberate the DC Questions relating to this DC Issue has been deferred pending deliberation of such DC Questions by the EMEA DC legal subcommittee. Please refer to the EMEA_DC_Standing_Resolution_21_June_2010. | |
| Pending DC Consent |