The Superintendency of Banks of Panama, through Resolution SBP-0205-2019 of November 8, 2019, ordered the Forced Liquidation of Allbank, Corp. The order based on Articles 154 and subsequent of Chapter XVIII, Title III of the Banking Law. This measure was adopted after two months of evaluation performed by the Interim Administrator, as well as the Superintendency of Banks; where they concluded that: due to the financial, operational and corporate governance situation of Allbank, Corp., neither a reorganization or sale of the bank will be viable. The official press release state that “Allbank, Corp. did not present an effective short-term solution, ...
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