In protection of assets and savers

Grupo Financiero BOD, the main shareholder of the Banco del Orinoco NV, with the majority support of the savers, will appeal the decision taken by the Court of First Instance of Curaçao that declared the bankruptcy of the Bank of the Orinoco to protect the assets of the bank that ascend to USD $ 1,165 Million.

WILLEMSTAD -Legal representatives of the BOD Financial Group notified that they will file an appeal to the decision taken by a Curacao Court of First Instance to declare bankruptcy of the Bank of Orinoco NV. In the opinion of the legal representatives, the rapid judgment that was carried out in Curaçao has vices of form and substance since the shareholders and savers were not notified, these being the main ones interested in defining the destinations of the bank's assets that amount to USD 1,165,000,000.00 according to a report by the auditing firm Ernst and Young requested by the same Central Bank of Curaçao in January 2019.

The Central Bank of Curacao and Sint Maarten, with perfect knowledge of the start of the arbitration process and knowing that the Bank of the Orinoco has sufficient operational funds and its own capital, in excess of the deposits of its clients, of more than 400 million US Dollars, requested the Courts of Curaçao to declare the Orinoco Bank in bankruptcy. The Central Bank of Curacao and Sint Maarten, in addition, deliberately failed to inform the shareholders and legal representatives of the Banco del Orinoco and the BOD Financial Group of the bankruptcy request, to obtain a decision behind the backs of depositors and shareholders based on false information.

At the same time, the BOD Financial Group has initiated international actions through arbitration based on the treaty signed between the Kingdom of the Netherlands and the Bolivarian Republic of Venezuela, as the Government of Curaçao and in particular the Central Bank of Curaçao and Sint Maaren continues with discriminatory and irrational practices of manipulation and concealment of information, denying access to the justice system, to the detriment of the depositors and shareholders of said banking institution.

In the face of the abuses by the Central Bank of Curaçao against shareholders and clients, by hiding information and deliberately lying in a Court, the BOD Financial Group guarantees to all those who have placed their trust in the Banco del Orinoco that they will exhaust all the means to protect their interests.