Competition Court declares statute of limitations on BdP fines to former Montepio administrator

Tribunal da Concorrência declared the prescription of the infractions imputed by the supervisor to the former administrator of Montepio Rui Amaral, in a process that has already had its sentence overturned by the Tribunal da Relação and which is scheduled to start again this week.

The Competition Court declared this Wednesday the prescription of the infractions attributed by the supervisor to the former administrator of Montepio Rui Amaral.

Tribunal da Concorrência today declared the prescription of the infractions imputed by the supervisor to the former administrator of Montepio Rui Amaral, in a process that has already had its sentence overturned by the Tribunal da Relação and which has a new start scheduled for the week.

In a preparatory step carried out today, Judge Mariana Sousa Machado declared Rui Amaral's counter-ordinance liability in this case to be extinguished, taking into account that there was consensus among all the parties that the prescription had occurred, at the limit, last October 13 (accounting the 86 days of “covidian suspension”).

The statute of limitations on administrative offenses applied by Banco de Portugal (BdP) to defendants for approval of credit operations was also declared without a two-thirds majority of the members of the board of directors of Caixa Económica Montepio Geral.

At issue in the process are fines imposed in February 2019 by BdP to Caixa Económica Montepio Geral (CEMG), Caixa Económica Bancária (2,5 million euros), its former president Tomás Correia (1,25 million euros) and to seven other former administrators (between 17,5 thousand and 400 thousand euros) for various illegalities, such as violations of the internal control rules and non-compliance with the duties of implementing internal control, regarding the granting of credit.

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