CBCS says ENNIA’s Shares within Banco di Caribe is a possible option for sale
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CBCS says ENNIA’s Shares within Banco di Caribe is a possible option for sale

CBCS Offices, Philipsburg, Sint Maarten (file photo) CBCS Offices, Philipsburg, Sint Maarten (file photo)

SINT MAARTEN (PHILIPSBURG) - In response to current media reports, Centrale Bank van Curaçao en Sint Maarten (CBCS) is issuing the following statement, the CBCS said on Tuesday.

“On July 4, 2018, an emergency regulation was issued by the Court of First Instance of Curaçao in respect of, among others, ENNIA Caribe Leven NV and ENNIA Caribe Holding NV (ENNIA). The purpose of the emergency regulation is to restructure ENNIA in order to restore its solvency in the interest of, among others, ENNIA’s policyholders.

“As part of these efforts, all options are being considered that may contribute to a successful restructuring. Among the options being considered is the possible sale of some of ENNIA’s assets, which include the shares held by ENNIA in Banco di Caribe (BdC).

“BdC is not subject to the emergency regulation and, as previously announced, neither was there any need for such a measure in BdC’s case. As an asset, BdC makes a positive contribution to the Ennia Group.

“Such a sale of BdC would generate revenues benefitting the restructuring process. CBCS will focus its restructuring efforts solely on the best interests of ENNIA’s policyholders and, insofar as BdC is concerned, also BdC’s depositors.”

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