Bankruptcies up 18% in 2023
Bankruptcies in Portugal increased by 18% in 2023 on 2022 with almost 2,000 companies going under. On the other hand, 2023 closed with a record number of new companies created (51,320), exceeding [...]
Bankruptcies in Portugal increased by 18% in 2023 on 2022 with almost 2,000 companies going under. On the other hand, 2023 closed with a record number of new companies created (51,320), exceeding [...]
Creditors are to decide if one of Portugal’s oldest construction companies SDCCAA, formerly known as Soares da Costa, is to be forced into liquidation. Soares da Costa had changed its name to [...]
The number of companies that declared insolvency increased 14% in the first half of the year with a total of 384 bankrupt companies, 85 more than in the same period in 2022. For the period, [...]
Novobanco and Banco Best have been ordered by a court to return €200,000 plus interest to a saver whose investments were swallowed up by the 2014 BES bonds fiasco. The saver had unwittingly [...]
A letter that was sent to the European Central Bank and the European Commission by the Prime Minister “undermined confidence” and had a “detrimental effect” on the way troubled Portuguese bank [...]
The Resolution Fund, which was set up to provide financial lifelines to Novobanco, has questioned Novobanco on the sale of a hotel in Brazil. The former Sheraton Reserva do Paiva in Recife was [...]
A court has ordered that a closed real estate investment fund set up by the building developer José Guilherme should be declared bankrupt. In the summer of last year, the Portuguese Public [...]
Nearly 13,000 companies closed in Portugal in 2021, while 1,951 have begun insolvency proceedings in court. Nevertheless, the numbers are viewed as “relatively low” and below 2019 pre-pandemic [...]
The real estate fund Fundimo, which is managed by the State-run bank Caixa Geral de Depósitos, has requested that entrepreneur Alfredo Casimiro should be officially declared bankrupt. Casimiro, [...]