Stanford Sale Awaits Closing

Dec 16, 2009

Panama-based reinsurance company QBE del Itsmo and local tourism tycoon George Novey won the auction to acquire the country’s Stanford Bank operations, according to a banker involved in the process. He adds that the current bank president, Ramon Martinez, will stay on board. A lawyer working on retrieving Stanford assets in LatAm believes the sale price could be...

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