Stanford clients still living in hope
PANAMA. After 37 days of uncertainty , Stanford’s Bank of Panama (SBP) and Stanford’s House of Values, S. A. (SHV) deposit holders are...
PANAMA. After 37 days of uncertainty , Stanford’s Bank of Panama (SBP) and Stanford’s House of Values, S. A. (SHV) deposit holders are still living in hope of accessing their deposits but, in the meantime, how do they pay their bills? Some businesses are unable to meet payrolls.
According to an official notice signed by the Banking Superintendent of Panama and the National Values Commission, their intentions will continue to “protect and safeguard the deposit holders, investors and legitimate rs interests” of the two companies based in Panama and operating under the Stanford name.
A conclusion was reached after civil servants of SBP and SHV met with the lawyers representing Ralph Janvey, who is the guard designated by the Dallas Court in the US.
Not only do they ensure all funds will be returned, but in the official notice they mention local and foreign companies are interested in buying the bank and the house of values, although they did not specify the names of the possible buyers.
The majority of the bank’s assets in Panama are in the custody of financial institutions under the jurisdiction of authorities from England, Switzerland, Ecuador and Peru.
However, the main authorities are those in the United States.