Delays to Liquidation of Banca Privada de Andorra

Almost a year after the liquidation of the bank was ordered, depositors have not yet received their funds, and in order to complete the settlement, the parent company will have to turn over $60 million.

Wednesday, November 29, 2017

Of the $100 million that Banca Privada de Andorra had registered as deposits in Panama, $60 million is abroad and the rest in Panama, reports Prensa.com.

"...To deal with customer funds in Panama, the liquidator must receive the amount that remains in Andorra."

In January of this year the Panamanian Superintendency of Banks ordered the liquidation of the banking institution, after it was placed in administration and a sale operation process failed.

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