Salvadoran Banks ask for More Flexible Bankruptcy Law

The banking sector disagrees with a bankruptcy bill that would generally benefit debtors.

Monday, June 21, 2010

ABANSA, the Salvadoran Banking Association, has asked the SSF, the superintendence of the financial system, to introduce more flexibility in the debtor’s classification section of the bill.

“By making this rule more flexible for a year, we will be able to refinance or restructure loans for those owing $100.000 or less”, explained Armando Arias, chairman of ABANSA.

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