Sunday, February 25, 2024

Logo Central America Link

Colombia's Interbolsa to be liquidated by regulator

Thursday, November 8, 2012

Troubled Colombian brokerage Interbolsa will be liquidated by the financial market regulator and its assets sold to pay investors and other financial obligations, Finance Minister Mauricio Cardenas said on Wednesday.

The government says it is a one-time case, due to poor management by Interbolsa, rather than representative of any wider liquidity problems in Latin America's fourth biggest economy.

The regulator intervened on Friday after the brokerage failed to make a scheduled$11 million payment to a local bank.

Source: Reuters