The Liquidation Board announced that as of November 30 services will be provided in three banks to account holders with deposits and credit operations with the bank currently in liquidation.
From a statement issued by the Liquidating Board of Banco Continental:
The Liquidation Board of Banco Continental SA, under forced liquidation.
Reports:
For customers who have deposits and credit transactions with the bank in liquidation, whose financial services are now being normalised, the procedure for services is as follows:
It has been announced that the Guatemalan bank has acquired assets belonging to the Honduran group estimated at $108 million.
As part of the process of forced liquidation of Banco Continental, which began on October 12, the Bank founded in Guatemala acquired 32% of the assets, which has an estimated total value of $225 million.
The Commission for the Promotion of Public Private Partnerships in Honduras has four trusts with Banco Continental to implement various projects in infrastructure and energy.
Officials at the Commission for the Promotion of Public Private Partnerships (COALIANZA), reported that this institution has four trusts with Banco Continental, usded to implement various infrastructure and energy projects, but after the decision issued by the National Banking and Insurance Commission ( CNBS) to force liquidation of the financial institution, they are waiting for to CNBS determine the procedure to continue execution of the projects.
Diagram showing the people and companies identified by actions related to money laundering, according to the U.S. Department of the Treasury´s Office of Foreign Assets Control.
The US Treasury Department has advised that it will not sanction individuals or institutions participating in the liquidation provided that those transactions do not benefit any individual or entity other than those previously identified by the OFAC.
The Office of Foreign Assets Control (OFAC) of the Treasury Department of the United States has issued a statement regarding the decision of the Honduran authorities to liquidate Continental Bank, after identifying the institution and several of its executives as being involved in drug money laundering:
It has been announced that deposits up to $9,200 (L200,000) per person will be returned, and then payments to employees, depositors and others, noting that "... there are sufficient resources to address them all."
The cause is the inclusion of the institution in the list of the U.S Office of Foreign Assets Control, and the freezing of its assets abroad.
In Honduras the Continental Bank is to manage a trust fund of $270 million for the construction and maintenance of roads.
This was announced by José Antonio Pineda of the Commission for the Promotion of Public Private Partnerships (Coalianza). He explained that five banks were involved in the process but Continental was the only one to bid.
"Banco Continental was awarded the management of the trust of this road.
A banker says that due to government financial regulations, in Honduras "it is now easier to import than it is to cultivate and produce."
Proceso.hn reports that "Excessive government regulations are preventing banks from lending money to promote production, as they has to deal with rules made for the first world even though Honduras is a fourth world nation, said the banker Jaime Rosenthal."