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Judge asked to launch bankruptcy proceedings over Nicaraguan ‘Bank of Success’

Thursday, August 5, 2010


Government attorneys asked a Nicaraguan judge to issue the authorization of the bankruptcy of Banco del Exito (the “Bank of Success”) that has had liquidity problems in recent months.
 
Some 18 creditors have come to the rescue of Banex that had to be capitalized by the Central Bank following losses of $5 million in March.
 
Meanwhile, some 55,000 customers have withdrawn deposits.
 
Original source (in Spanish): Xinhua