Cuatrecasas receives award for advisory services to Bank of Portugal in Banif resolution

March 17, 2017

Cuatrecasas has received the European Banking & Finance Deal of the Year award from British magazine The Lawyer for the advisory services provided to Banco de Portugal in the Banif resolution process. The Lawyer European Awards ceremony took place yesterday in London.

The pioneering nature of how the resolution measures were prepared, structured and implemented was a decisive factor in earning this distinction. For the first time, a bank was split into three parts, with the retail business being sold to Santander Totta, a “bad bank was created,” and contingent assets were transferred to an asset management vehicle.

Managing partner in Portugal and coordinating partner of our Banking, Financial and Capital Markets Law Practices, Maria João Ricou, coordinated the advice, which involved a multidisciplinary team of over 12 lawyers, including partners Manuel Requicha Ferreira and Paulo Costa Martins from the Banking Law Practice, partners Miguel Esperança Pina and Rita Gouveia from the Litigation Practice, partner Lourenço Vilhena de Freitas from the Public Law Practice, partner Maria da Glória Leitão from the Labor Law Practice, consultant Ricardo Bordalo Junqueiro from the Anti-Trust Department, and tax partner, Diogo Ortigão Ramos.

Maria João Ricou and Manuel Requicha Ferreira attended the ceremony to receive the award. Maria João Ricou believes the award “is recognition of the importance of Cuatrecasas’s contribution to structuring and implementing the Banif resolution, which involved measures and transactions that were legally innovative and highly complex, and carried out under significant time constraints.” “Our aim is to respond to the trust our clients place in us with our knowledge, skills and commitment. Awards like this are very important to us because they are public recognition in the market that we can fully achieve this objective,” she added.   

Cuatrecasas has participated in some of the leading transactions that have taken place in the Portuguese banking system, including advice to Anbang in the sale of Novo Banco in 2015 and advice to CaixaBank in the IPO for BPI, completed in February.

This was the eighth edition of The Lawyer European Awards, which recognize excellence in the European legal sector in 24 categories. The panel was formed by 19 judges, partners of international legal firms, and lawyers with leading multinationals.  

In addition to Cuatrecasas, seven other European law firms were nominated in this category.

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