OFFICIAL PRESS - PLATFORM VICTIMS BES See below the activities on which we are involved: 1) COORDINATION WITH OTHER VICTIMS PLATFORMS: It is going to be held a meeting in Lisbon in late October between several platforms of victims, currently about 1,000 victims, including 350 victims of our platform. The aim of the meeting is: - To study the political decisions taken by the Portuguese government - To study the potential judicial strategies and actions to be taken by the shareholders - To explore the possibility of forming an Association of Victims in Portugal for the best defense of the interest of the shareholders and in order to get the greatest impact on media. 2) STUDY OF ACTIONS AND HIRING OF LAWYERS: We believe that in the short term is not necessary hire legal advisors due to: A) LACK OF INFORMATION: The status of the current situation and the decisions taken by the Government of Portugal are unclear. Public and Media should receive any official communication during this month by both the Government or the Bank of Portugal clarifying how it will be made the split between Good and Bad Bank. Also, they should explain why auditors have recently resigned for auditing the bank. B) LEGAL COMPLEXITY: The legal complexity of a unique situation in Europe requires from us wait until we find a law firm that has a clear strategy to follow and in order to get that, it should be clarified the aspects mentioned in A). C) PAYMENT FOR SUCCESS: Our goal is to pay lawyers under "success fee" and that the expenses to be involved not should be more than the powers of attorney and notary and in the case we look convenient to join the association that aims to be created in Portugal, to pay a small fee for the creation of such association. there is also a second option (plan B) that is to join the Association of Octavio Viana (ATM) but still we do not know the strategy of its in-house lawyers and the costs for joining to the association. Currently, there are lawyers in Portugal are asking for 1,000 euros per shareholder and others asking for 50 euros plus 0.01 euros per share plus 10% more of your investment under "success fee". We do not consider payments in advance at this point, although anyone is free to make decisions and hire and services. 3) REGISTRATION OF VICTIMS: We continue recording victims until close the list with about 500 victims. We consider we have to join platforms and continue registering victims for over the current 1,000 shareholders. 4) MEDIA: We will continue in the media increasing list of international victims in order to explore an Extrajudicial Agreement with the Government of Portugal. NEXT STEPS: We have to wait events, since even the facts are quite recent and August has been an non-working month. We continue the negotiations with Portugal platforms ahead in order to set up conclusions for the October´s Meeting. We will send a new email on October 5 or earlier if there is any relevant information. Note: We can not respond personally to every email you send, we will put the information on Facebook and through official emails. In relation to those affected with: Subordinated Notes, CFD's or any other financial product related to the BES, we can not give specific answers until we resolve the issues identified in this release.
|