A Decade on, a Bank’s Creditors Are Still Waiting to Recoup Losses
It’s 10 years since Portugal’s second-biggest lender collapsed in infamy, but the argument over its corpse still rages.
A sign for Banco Espirito Santo at a branch in Lisbon, Portugal in 2010.
Photographer: Mario ProencaThis article is for subscribers only.
Welcome to The Brink. We’re Irene Garcia Perez and Lucca de Paoli in London, where we caught up with the corpse of Banco Espirito Santo. We also have the latest on Chinese developers and Steward Health. Follow this link to subscribe. Send us feedback and tips at debtnews@bloomberg.net or DM on X to @irenegperez.
It’s 10 years since Banco Espirito Santo collapsed and had to be rescued by the Portuguese central bank. But for the big-name investors still hustling to get their money back, the fight has barely even begun.