WILLEMSTAD - The Central Bank of Curaçao and Sint Maarten (CBCS) has in the past period emitted several press releases on the progress of the legal recognition in the United States of the existing emergency regulations of the insurance company ENNIA.

After the legal recognition on 20 December 2018 of the emergency regulation of ENNIA by the Court in the United States, the judge has decided on 29 January 2019 that ENNIA receives the funds and investments on the accounts at Merrill Lynch. The court hearing took place on 22 January 2019. The objections raised by the shareholder of ENNIA, Parman International B.V., did not convince the judge.

With this decision of the Court of the United States, another milestone has been achieved for the restructuring of ENNIA. The CBCS will continue to do everything in its power to restore the solvency of ENNIA, with the aim of the company’s obligations towards policyholders in the long term.