LEGAL OPERATIONS

• ADMINISTRATIVE LIQUIDATION - OBJECTIVES

 

• Special liquidation process for intermediary institutions.
• Gives priority to investorss where regular liquidation gives priority to other claimers.
• Investors can be compensated by the Fund.
• The period of liquidation is shorter than the period of regular liquidation.

 

• ADMINISTRATIVE LIQUIDATION - PROCESS

 

• Decision can be made by CMB.
• The Fund takes over the management of the intermediary institution.
• Firs advances from the Fund are paid to the investors.
• Then assets of the intermediary institution are liquidated by the Fund.
• Liquidation balance is used to meet the claims of investors, government and the Fund respectively.