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Posted by portugalpress on November 06, 2018

Insolvent agricultural property formerly owned by Group Espírito Santo in the Beira Baixa region is finally up for sale, but Novo Banco (the bank that rose from the ashes of the banking disaster) “won’t see a penny of it” says a report by SIC television news. Money made from what will be a multi-million sale will be held pending the outcome of the criminal trial of all those allegedly involved, particularly former BES banker Ricardo Salgado.

This result is exactly what judge Carlos Alexandre and the Public Ministry wanted, explains SIC, but diametrically opposed to the hopes of the property’s principal creditor, Novo Banco, which has been pushing for a different outcome for months.

Herdade de Vale Feitoso will be going on sale for a minimum price of 36,449,807.75 euros, reports the channel.