The Luxembourg District Court sitting in commercial matters has today declared bankrupt the companies ESPIRITO SANTO FINANCIAL GROUP S.A. (ESFG) and ESPIRITO SANTO FINANCIERE S.A. (ESFIL) following the applications filed by the Board of Directors of each company yesterday and despite the period of appeal of the judgments of 3rd October 2014 (rejecting the applications for controlled management) having not expired yet.

In both cases the Court has appointed Mr. Jean-Paul Hoffmann as supervisory judge (juge-commissaire) and Mrs Laurence Jacques, lawyer, as bankruptcy estate receiver (curateur).

The judgments shall be posted at the Court and published by extract in newspapers designated by the Court in such judgments. Opposition against the decision opening the bankruptcy can be lodged by any interested party during a period of 15 days after the publication.