Thursday, October 9, 2014

Espírito Santo Financial Group announces bankruptcy petition – News Journal

Espírito Santo Financial Group announces bankruptcy petition – News Journal


 The Espírito Santo Financial Group announced this Wednesday,
 who will ask the insolvency proceedings and also its subsidiary ESFIL -
 Espírito Santo Financière make the same request, the company said the
 Commission of the Securities Market.
 
 
 
 
 
 
 

In a statement sent to the market regulator, Espírito Santo Financial Group (ESFG) reports that “the
  its Board of Directors decided to ask insolvency “and that
 also “asked its subsidiary ESFIL insolvency.”

The decision
 comes after the Luxembourg Court rejected on Friday the
  Applications for controlled management of ESFG and ESFIL, Group companies
 Holy Spirit.

In a statement released today, states that ESFG
 “It is expected” that the Luxembourg court pass an order of
 insolvency and “appoint one or more receivers to properties and ESFG
  ESFIL of the hearings on Friday, October 10. “

 ESFG, the financial arm of the Espírito Santo Group, recalls that
 procedures in relation to requests for controlled management of the Spirit
 Holy International (ESI) and Rioforte Investments, the largest
 indirect shareholders ESFG, ongoing.

In
 Friday, the source of the Luxembourg court explained to Lusa that
 proceedings relating to controlled management are confidential, so the
 judiciary can not provide any information, pointing
 only that the decision was taken after the reports have been reviewed
  experts.

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