Some 34,000 individuals and public and private entities filed claims with the BES liquidation commission, a source familiar with the case told Lusa.
Only last week there were three thousand claims of credit. The deadline for complaints ended last Friday, March 8.
After complaints of claims submitted, the list of credits recognized and not recognized by the liquidation commission of Banco Espírito Santo (BES) will be known in the coming weeks.
However, the procedure may be delayed due to the high number of complaints, the legal complexity and the fact that many creditors have made several complaints and that such screening work has to be done. Complaints were sent by letter or by e-mail.
Amongst those requesting payment from BES are thousands of individuals, but also private and public entities such as the New Bank, the Tax Authority, the Credit Recovery Fund of those affected by commercial paper or large international investment funds penalized by the BES resolution.
Jornal Economico reports today that the company Petróleos de Venezuela requires payment of more than 2,000 million euros in commercial paper and bonds and that this complaint of credits was sent last Friday to the BES Liquidation Committee.
The same newspaper also says that the Fund for the Recovery of Credits of those injured in the commercial paper of BES claimed credits amounting to 513 million euros (424 million euros of claimable capital plus interest).
It was this fund that paid the indemnities to the 2,000 investors in commercial paper sold by BES, having in return had to keep its credits on BES and entities related to the bank, so that it will litigate against the bank for damages caused and which, if the courts decide in favor, will receive the compensation.
BES's liquidation commission should recognize credits from privileged creditors (such as the Tax Authority) and from common creditors (as suppliers), but may reject requests from creditors who have some subordination in the case of investors who bought financial products as well as shareholders.
Creditors whose claims are rejected (the decision will be sent to all in registered letter with their legal explanation) must challenge that decision before the Lisbon Commercial Court. The deadline for doing so is ten days (running).
Following the resolution of BES, in compliance with the law, the Deloitte consulting firm reported on how much the common creditors would have received if BES had been liquidated instead of the resolution and considered that they would recover 31.7%.
This amount will have to be paid by the Banking Resolution Fund to BES creditors.
However, there are doubts as to when the Resolution Fund will pay this amount, which may only be at the end of the BES liquidation process, which may take years.
Lusa questioned the Bank of Portugal on the subject, but so far unanswered.