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News Link • Economy - International

Holding Company Of Portugal's 2nd Largest Bank Just Filed For Bankruptcy Protection

• zerohedge.com
*ESPIRITO SANTO INTERNATIONAL SAYS IT CAN'T MEET OBLIGATIONS
  • *ES INTERNATIONAL APPLIES FOR `CONTROLLED MANAGEMENT' REGIME
  • *ES INTERNATIONAL APPLIES FOR REGIME UNDER LUXEMBOURG LAW
  • The "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.

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