Banif's and BES's foreign branches accuse the Government of violating “the constitutional principle of equality”

ALEV (Association of Lesbian Emigrants from Venezuela and South Africa) and ABESD - Association for the Defense of Banking Clients come to speak of "potential violation of the constitutional principle of equality" in reaction to the news that the Government may not guarantee victims of external branches of BES and the injured Banif.

Hugo Correia / Reuters

Those injured in Banif and BES's external branches want to benefit from a mechanism similar to that given to those injured in BES (commercial role of Rioforte and Espírito Santo International) in which the State provided a guarantee of almost 300 million euros that would for being activated since the credit recovery fund managed by Patris was never recognized as a creditor by BES's liquidation committee.

However, for those injured in BES's external branches and those injured in Banif, the Government no longer guarantees the same solution. According to a report in the Jornal de Negócios, the Government says it is waiting for an analysis by Banco de Portugal (BdP) on the expectations of credit recovery through the courts, and only afterwards will it decide whether or not to grant a State guarantee for to create a fund to compensate those injured. However, it has already been advanced that “prudence” is needed in the granting of public guarantees, already cooling expectations that the same solution created for the injured of BES when António Costa arrived at the Government can be repeated.

In view of this, ALEV (Association of Lesbian Emigrants from Venezuela and South Africa) and ABESD - Association for the Defense of Banking Clients come to speak of “potential violation of the constitutional principle of equality”.

“It is strange the discrepancy in the performance, and inaction, of the Government which, after having approved a credit recovery fund, under the terms of Law 69/2017, for those injured in the Commercial Role of BES, now comes to raise a set of problems and new assumptions ignored by the 2017 working group ”, say the associates.

ALEV and ABESD "just want equal treatment between Portuguese - which does not seem to follow from the news - they remain available and await a working meeting with the Government", they say in a statement.

In reaction to the news, the two associations reject the argument allegedly invoked by the Government, and say that “as is well known, recovery funds have a life span, usually 10 years. There are examples, at national and international level, of credit recovery over 10 to 12 years ”. Therefore "it is unreasonable to justify that there has been no recovery in the last 3 years - by the only fund created so far - is a bad pronouncement or justification so that others cannot be created".

More than a year after signs of illicit acts were detected in the sale of products at Banif and at the external branches of Banco Espírito Santo (BES), small investors injured by these practices continue to wait for a solution and without prospects. The Government is waiting for an analysis by Banco de Portugal (BdP) on the expectations of credit recovery.

At stake are close to three thousand small unskilled investors from Banif and BES.

 

 

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