Those affected by Banif will propose to the Government compensation of 169.6 million euros, to cover 1,900 claimants for loans, in a solution similar to that found for those affected by BES Commercial Paper.
According to a source linked to the process, the Banif’s victims estimate total losses of 242 million euros between some 1,900 credit claims with the bank’s Liquidation Committee which ended in 2015.
Following a meeting with the current Government, headed by Luís Montenegro, at the beginning of the month, those affected by Banif are finalising a proposal to present to the executive, which provides for the Creation of a fund in which investors would recover 50% of the credits for amounts invested greater than 500,000 euros and 75% for amounts invested less than 500,000 euros.with a maximum of 250,000 euros.
In short, and taking into account the investments lost in these intervals, this would mean that a fund to compensate all claimants would be around 169.6 million euros.
Those affected believe that conditions are ripe for reaching a solution by the end of this year.
In December 2015, Banif (which had already been nationalised and was then majority owned by the State) was subject to a resolution measure by decision of the Government and the Bank of Portugal.
Part of the banking activity was sold to Santander Totta, and the Oitante vehicle company was also created to which the assets that Totta did not buy were transferred. At Banif, shareholders and holders of subordinated bonds and “toxic” assets such as Banif Brasil, sold in 2023 for one real, were in liquidation.
Source: Observadora
