However, “this process faces various litigation initiated by some creditors, which include appeals for revocation and protection against the Judgment. Consequently, it is not possible to make payment to recognized creditors until said Judgment has become final once the aforementioned challenges are resolved, as well as the asset recovery process is concluded,” the institute explained in a statement.
“In this sense, the result of said appeals and protections could lead to modifications to the Sentence,” added the IPAB.
The document highlights that “the IPAB has not made a public announcement related to an alleged start of payment to creditors within the judicial liquidation process of Accendo. Recognized creditors can find out the status of the judicial liquidation process before the corresponding judge.”
With regard to savers, on September 28, 2021, the IPAB authorized the payment of guaranteed obligations (POG) of Accedo Banco to its savers, which was made as a guarantee for the deposit insurance administered by the institute, which is equivalent to 400,000 UDIs (investment units) -equivalent to 2.76 million pesos according to the value of the UDI on the day the settlement entered.
Accendo savers collected 99.16% of the amount of their deposits, equivalent to 1,314 million pesos.
At the end of September 2021, the Ministry of Finance and Public Credit (SHCP) withdrew Accendo's license to operate as a multiple banking institution because it did not comply with the capitalization index established by law.
In Mexico, the regulation establishes the capitalization rate at 10.5%; Accendo's fell to 10.2%.
