Novobanco recorre para o Supremo contra Luís Filipe Vieira para limitar perdas de 160 milhões
Novobanco has appealed to the Supreme Court of Justice seeking to limit losses exceeding €160 million in a case against Luís Filipe Vieira, the former president of Sport Lisboa e Benfica. The bank thus intends to avoid becoming a shareholder in two companies, Promovalor II and Inland, which belonged to and are chaired by Vieira, after ...
International funds appeal decision that sided with the Bank of Portugal in BES resolution
International funds will appeal the decision of the Lisbon Administrative and Tax Court (TAF) that sided with the Bank of Portugal (BdP) over the transfer of €2.2 billion in non‑subordinated Novobanco bonds to the 'bad BES' ten years ago. The case concerns the appeal brought by PLMJ lawyers, André Figueiredo ...
Investors freeze €1bn of Venezuela's funds at Novobanco
In recent years, nearly a dozen international investors have brought freezing orders in Portugal to seize the accounts that Venezuela holds at Novobanco, totalling one billion euros, according to data ECO obtained from the Lisbon court. The cases involve claims brought by an oil company and a mining company...
INE to reassess classification of Novobanco dividends and gives a boost to the 2025 surplus
The National Institute of Statistics (INE) will reassess in March the classification of Novobanco's dividends, potentially allowing that income to be recognised in last year’s national accounts. If reclassified to count towards the previous budget balance, the adjustment could provide an extra boost to help the Portuguese Government meet or exceed its 0.3% surplus target for 2025. The move would alter headline fiscal metrics, affect timing of revenue recognition in national accounts, and carry implications for public finance reporting, investor perceptions and future treatment of similar banking transactions.
