Abdul Waked has authorized the transfer of assets from the mall to a trust in order to ensure the continuity of its operations.
Monday, July 4, 2016
The mall that was previously owned by Waked will be able to keep operating, while creditor banks reorganize its finances and a sales process is defined.Soho Mall is located in the financial district of the capital.
Prensa.com reports that"...The creation of a trust was the choice proposed by a ministerial commission to the United States Department of the Treasury. "Prensa.com adds that"...This newspaper learned that on Friday, July 1, at 11:30 pm, the negotiation process with the entities ended, these entities are owed about $174 million. "
"...The OFAC must now receive the translation of all the negotiated documents to validate the effective exit of Waked and that a future sale does not benefit the merchant.These are the prerequisites for Soho Mall to eventually get taken off the so-called Clinton List and be able to carry out commercial and financial transactions with citizens and businesses without restriction. "