Legal News

Supreme Court rules on recognition of foreign measure for bank reorganisation (Goldman Sachs and others v Novo Banco)

Published on: 12 July 2018
Published by: LexisPSL
  • Supreme Court rules on recognition of foreign measure for bank reorganisation (Goldman Sachs and others v Novo Banco)
  • What are the practical implications of the decision?
  • What was the background?
  • Legislative background
  • Factual background
  • The English proceedings
  • What did the Supreme Court decide?

Article summary

Restructuring & Insolvency analysis: A Supreme Court ruling recognises that a decision of the Portuguese central bank that, when it incorporated the respondent bank as a bridge institution and transferred to it the assets and liabilities of a failed bank, a liability to the appellants under a loan agreement had not, as a result of Portuguese law, been included in the transfer. Richard Salter QC and Jonathan Mark Phillips, of 3 Verulam Buildings, examine the decision. or take a trial to read the full analysis.

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