In Panama reports state that $15 million in assets have been recovered in the process of forced liquidation of the brokerage firm Financial Pacific, an amount which covers only 70% of the total invested by customers.
Problems in the Panamanian stock market continue, and now it is the Liquidating Board of brokerage firm Pacific Financial which is giving the bad news to customers of the company. The assets recovered only cover 70% of the funds registered in the bank accounts of the clients who invested in the entity.
For "breaching the obligations of the issuer" the Stock Exchange has suspended indefinitely trading bonds and VNC's by the financial company La Generosa.
From a statement issued by the Panama Stock Exchange:
"... We wish to inform the public that, in addition to the suspension of trading of corporate bonds by Finanzas y Créditos del Hogar, S.A., for $ 4 million, effective yesterday, the stock market in Panama has decided to suspend from today and indefinitely, negotiation of corporate bonds and commercial negotiation values (VCN's) by the issuer listed on the Exchange.
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