The pioneering of the case of BES and the bank resolution

Abstract

In this essay, we will seek to address the legal implications of the famous case of BES, which represented the fall of the biggest portuguese Bank, faced with the world financial crisis. We will take into account all aspects of the portuguese legal system, including the constitutional system, and the Community legal order, and reference should be made to all the activity of supervision by the Bank of Portugal in this case, mainly, the innovative solution adopted - the bank resolution, a mechanism introduced in the European Union under the state of emergency of most of the European banks, primarily implemented in this case, that will be approached in detail in this essay. We will neither forget the defence procedural measures that private individuals (BES's clients) can use on account of the major damages caused by the possible illegalities perpetrated by the Bank of Portugal in its supervision activity. The adopted script is the european portuguese, in accordance to the last orthographic agreement of the portuguese language, of 1990, which is currently in effect. Lastly, with regard to the systematic investigation, this essay is a research with a bibliographical, documental and qualitative basis, oriented in the critical dialectic model.