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CJEU upholds Banco Espírito Santo bailout in “cautionary tale for investors”

By Dominic Lawson

06 January 2020

CJEU upholds Banco Espírito Santo bailout in “cautionary tale for investors” iStock.com/Luis-m-Leonardo

The EU Court of Justice has upheld the 2014 bailout of Portugal’s Banco Espírito Santo, dismissing a complaint by out of pocket bondholders that it breached state aid rules.