Crédit Agricole advanced with legal actions worth 1,000 million euros, twelve years after the resolution of Banco Espírito Santo. The two cases were filed on the Citius portal on September 1, after the judicial vacation period.
The action comes more than a decade after the resolution of BES, which occurred in 2014 and caused one of the biggest financial scandals in Portugal. Crédit Agricole thus decided to go to court to claim funds related to this banking crisis.
The Citius portal, which is the computer platform for case management of Portuguese courts, confirmed the distribution of the two cases in early September. This tool allows tracking of ongoing legal proceedings in the country.
The value of 1,000 million euros at stake represents one of the largest legal actions related to the BES resolution process. Crédit Agricole's decision to advance with these actions demonstrates the institution's intention to recover funds lost during the crisis that affected the Portuguese banking sector twelve years ago.
