IPFS News Link • Economy - International
Holding Company Of Portugal's 2nd Largest Bank Just Filed For Bankruptcy Protection
• zerohedge.comThe "controlled management" application is the equivalent of declaring a breakup or controlled bankruptcy process (as we explained here). ESI is the ultimate HoldCo in the Banco Espirito Santo family.
As Bloomberg reports,
Espirito Santo International, a holding company that's part of Grupo Espirito Santo, requested to be placed under "controlled management" under Luxembourg law, co. says in statement.