The Bank of Portugal has already signed service contracts with law firms over 3.3 million euros this year, which will be paid through 2019 and in the coming years.
The largest contract was signed with Cuatrecasas Gonçalves Pereira, amounting to three million euros related to three years of legal advice and sponsorship. In essence, according to the official source of the Bank of Portugal, disputes are related to the resolution of BANIF and to the "Oak Finance case".
The contract is dated March 26, 2019 and refers to "a resolution of the Executive Committee for Administrative and Personnel Affairs (CEAAP), competent in terms of delegation of powers of the Board of Directors of the Bank of Portugal", by its dated March 19, 2019. Nevertheless, it is stated that "it reports its effects on January 31, 2018 and remains in force for a period of two years."
One year, on the other hand, is the period of validity of another legal advisory services contract, concluded in this case by the central bank with the law firm Antas da Cunha, Ecija & Associados, for a sum of 220 thousand euros, which provides "support in the process of legal implementation of the action plan for compliance with the General Data Protection Regime. "
And on January 22nd another contract was signed for two years of forensic support and forensic sponsorship with Pérez Lorca Abogados, and implies the payment of 150 thousand euros, "in the scope of the litigation arising from the resolution of Banco Espírito Santo, in particular in judicial proceedings pending before the Spanish courts ".
Also last year the Bank of Portugal reached an agreement with Vieira de Almeida & Associados for a three-year agreement (effective as of December 28, 2017), with a maximum value of 4,850 million euros. At stake is litigation related to the resolution of Banco Espírito Santo conducted by the law firm.