The Portuguese Regulation on which the resolution of Banco Espírito Santo (BES) in August 2014 was based is compatible with the right to property, the Court of Justice of the European Union ruled on Thursday 5 May (Case C-83/20).
Two companies holding subordinated bonds issued by BES and shareholdings in the Portuguese bank are challenging in the Portuguese courts the compatibility of the Portuguese Regulation on the resolution of credit institutions with EU law and the provisions of the...