In a statement, Legal and Economic, the management company appointed by the bankruptcy judge, announced that these balances will be included in the insolvency, ie, which is intended to deal with the immediate payment of the creditors, and it will be transferred to the Custodian of the funds.
This is an amount exceeding 250 million euros and remained locked on the receivers who struggled on the one hand, and the CNMV and the Directorate General of Insurance, on the other. The decision means that this amount relates entirely to the participants of the funds, SICAV and pensions, which have not yet been able to recover their investments.
“In accordance with the aforementioned sectoral legislation of the UCITS and pension funds, is admissible separation and consequently cash balances in current accounts can not be held insolvency claims”, have pointed administrators in a statement citing expansion.
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