WILLEMSTAD - According to regulator the Central Bank of Curaçao and Sint Maarten (CBCS), Ennia would have suffered damage of at least 700 million guilders due to mismanagement by former policymakers and shareholders. Lawyers for the insurance company argued Thursday that the damage would have been even higher.

The insurance company Ennia is demanding compensation of 1.1 billion guilders in the liability proceedings against Hushang Ansary and other former directors who were in charge around 2018. The procedure was already started in October 2019 with a petition. Only almost a year later, at the end of September 2020, Ansary responded in that procedure.

Ennia is assisted by the CBCS during the session that started on Thursday. The debts that Ansary and his partners would have incurred at the company are well above 700 million guilders. This is apparent from various points made by the company's lawyers during the hearing.

94-year-old Ansary was also present at the hearing but did not say anything yesterday. Ralph Palm and Abdallah Andraous were also present (virtually). Nina Ansary, daughter of hushang Ansary, was not present yesterday but will probably attend the session virtually today.

Ennia demands more than a billion guilders from its owner. Ansary's lawyers are allowed to speak in court today to justify the actions of Ansary and the former directors.