Bancafe International Bank Ltd. ("Bancafe")

In Custodianship

Page last updated: May 22, 2014
This page is for information purposes only and you should consult your professional adviser if you have any questions or are uncertain as to your rights or obligations.

Status of the File as of May 21, 2014

590 KB Status of the File as of May 21, 2014 (ENG and ESP)

Status of the File as of January 23, 2014

590 KB Status of the File as of January 23, 2014 (ENG and ESP)

Status of the File as of April 19, 2013

590 KB Status of the File as of April 19, 2013 (ENG and ESP)

Estado del Expediente al 12 de febrero de 2013

El siguiente video fue preparado con objeto de proporcionar a los depositantes de BIB una explicación de las acciones legales que actualmente se encuentran en proceso en Guatemala, en las cuales, el Custodio y su equipo legal en Guatemala, están coadyuvando con el Ministerio Público.

El video provee un sumario de los principales motivos que llevaron al Custodio a presentar acciones legales en Guatemala. Tal y como se reportó previamente ante la Alta Corte de Barbados, el Custodio está llevando a cabo estas acciones y otras acciones legales en Guatemala con objeto de recuperar los activos que han sido identificados a lo largo de nuestra investigación. Los activos están siendo recuperados en beneficio de todos los depositantes y acreedores debidamente acreditados, la mayoría de los cuales son guatemaltecos, y quienes actualmente están expuestos a sufrir un déficit significativo.

 

Para información adicional respecto a los puntos presentados en el video, por favor consulte los siguientes documentos, los cuales son representativos de la gran cantidad de evidencia disponible para el equipo del Custodio y el Ministerio Público:

Documentos Selectos por Tema:

1. Insolvencia de BIB

237 KB Declaración jurada en apoyo a citación original del Banco Central de Barbados, presentado el 17 de noviembre de 2006

2. Transacciones entre BIB, Vipasa International, y otras Entidades del "Grupo 2"

507 KB Documento número 2928-2009 de la Superintendencia de Bancos de Guatemala, emitido con fecha 14 de julio de 2009
1.5 MB Memorándum AI-005-05 elaborado por la Auditoría Interna de Bancafé, con fecha 9 de agosto de 2005

3. Conocimiento de los Reguladores Guatemaltecos (SIB), sobre las Inversiones con Partes Relacionadas

741 KB Documento Número 2309-2003 de la Superintendencia de Bancos de Guatemala, emitido con fecha 9 de junio de 2003. Este documento muestra que el Regulador Guatemalteco (SIB), había identificado en el año 2003 la relación entre BIB y Vipasa International Investments, previo a la autorización de la constitución de la entidad supervisada, Bancafe Grupo Financiero del País.

4. Relaciones entre BIB – Vipasa International – Refco

203 KB Las notas de BIB a los Estados Financieros de los años 2001 y 2002 - Las Notas reflejan las inversiones efectuadas por BIB en Vipasa International.
1.2 MB Los Estados Financieros de BIB de los años 2003 y 2004. Los Estados Financieros no reflejan la Garantía Cruzada a favor de Refco.
1.2 MB Acuerdos en cuenta en REFCO
30 KB La Certificación Contable de BIB emitida el 25 de octubre de 2005
756 KB La estructura BIB/Vipasa International - Memorándum Interno, 15 de diciembre de 2005

Status of the File as of February 12, 2013

The following video was prepared in order to provide BIB depositors with an overview of the legal actions currently underway in Guatemala, in which the Custodian and its Guatemalan legal team are providing support to the Office of the Attorney General of Guatemala.

The video provides a summary of the primary causes that led the Custodian to file legal actions in Guatemala. As previously reported to the High Court of Barbados, the Custodian is pursuing legal these actions in Guatemala and other actions abroad to recover assets that have been identified during our investigation. Assets are being recovered for the benefit of all proven depositors and creditors, most of whom are Guatemalan, who presently stand to suffer a significant shortfall.

View video above

For additional information on the topics presented in the video, please see the following documents, which are representative of the vast body of evidence that is available to the Custodian's team, and to the Office of the Attorney General:

Selected Documents by Topic Area

1. BIB's Insolvency

237 KB Affidavit in support of originating summons by the Central Bank of Barbados presented on November 17, 2006

2. Transactions between BIB, Vipasa International, and other "Group 2" Entities

507 KB Document number 2928-2009 of the Superintendence of Banks of Guatemala, issued on July 14, 2009
1.5 MB Memorandum AI-005-05 prepared by Bancafé Internal Audit, dated August 9, 2005

3. Guatemalan Regulators' (SIB) Knowledge of Related Party Investments

741 KB Document Number 2309-2003 of the Superintendent of Banks of Guatemala, issued on June 9, 2003. This document shows that Guatemalan Regulators (SIB) had identified the relationship between BIB and Vipasa International Investments in 2003, prior to authorizing the organization of the supervised entity, Bancafe Grupo Financiero del País.

4. Relationships Between BIB - Vipasa International - Refco

203 KB BIB's Notes to Financial Statements 2001 and 2002 - The Notes reflect BIB's investments in Vipasa International
1.2 MB BIB's Financial Statements 2003 and 2004 - The Statements do not reflect the Refco Cross-Guarantee
1.2 MB REFCO Account Agreements
30 KB BIB Accountant Certification issued on October 25, 2005
756 KB BIB/Vipasa International Structure - Interoffice Memorandum, December 15, 2005

Status of the File as of June 12, 2012

186 KB Status of the File as of June 12, 2012 (ENG and ESP)

Distribution 5 - Depositors may access the file below to determine their status in the first 5 Distribution payments. Simply search (Ctrl-F) for your account number to review the amount and status of each Distribution payment relating to your account. Please note that the 5th Distribution commenced today, June 12, 2012, however, depending on your method of payment, please allow 2-4 weeks for delivery.

186 KB Payment Schedule to D5

Status of the File as of April 18, 2012

186 KB Status of the File as of April 18, 2012 (ENG and unofficial ESP translation)

Status of the File as of February 9, 2012

69 KB Status of the File as of February 9, 2012 (ENG and unofficial ESP translation)

Status of the File as of November 30, 2011

229 KB Status of the File as of November 30, 2011 (ENG and unofficial ESP translation)

Status of the File as of August 25, 2011

Please see below for the custodians third report to the court. Also below please see orders of the court relating to a claims bar date approved and ordered by the court.

31 KB Bancafe - High Court of Justice - No 2092 of 2006 - Third Report to the Court
31 KB Bancafe - High Court of Justice - Order - 2011-07-14
31 KB Bancafe - High Court of Justice - Affidavit - No 2092 of 2006

Status of the File as of October 7, 2010 - Estado del proceso al 7 de octobre de 2010 (English/Espanol)

31 KB Status of the File as of October 7, 2010

Status of the file as of June 25, 2010

The Custodian is currently preparing to pay a Third Distribution to proven creditors in the estate of Bancafe International Bank.

The timing and amount of the distribution has not yet been finalised as a result of delays encountered in the recovery of certain bonds from the Bolsa de Valores Nacional de Guatemala, which we had expected would add to the value to be distributed. These delays have been the result of interference by certain creditors in an attempt to recover the bonds for their own benefit, to the exclusion of the general body of depositors. Upon resolution of the legal process that the creditor has initiated, the Custodian will be in a position to pay the Third Distribution.

In order to ensure that depositors are prepared to receive their payments once the process begins, we recommend that you advise the Custodian by email if you have changed your address or if there has been any change in status of your Banco Agromercantil account. We recommend that you check with BAM to ensure that your account is still active, or to open a USD account if you have not already.

All correspondence on these matters must be sent to bibinfo@bb.pwc.com. We cannot guarantee that emails sent directly to individual PwC team members will be processed in time for the distribution.

Additional information will be posted here once it is available.

Estado del caso al 25 de Junio de 2010

El Custodio actualmente se prepara para realizar una Tercera Distribución a depositantes acreditados de Bancafe International Bank Ltd..

El tiempo y el monto para la distribución aun no se ha determinado debido a atrasos que surgieron en la recuperación de ciertos bonos del tesoro en custodio de la Bolsa de Valores Nacional de Guatemala, los cuáles esperábamos que agregarían al valor al monto total a ser distribuído. Estos atrasos han sido resultado de la interferencia de ciertos depositantes de BIB que han intentado recuperar los bonos para su propio beneficio, en perjuicio de todos los demás depositantes.  En cuánto se obtenga la resolución del proceso legal que el acreedor ha iniciado, el Custodio estará en posición de llevar a cabo el pago de la Tercera Distribución.

Para asegurar que los depositantes estén preparados para recibir sus pagos una vez el proceso comience, recomendamos que usted notifique al Custodio por medio de correo electrónico si usted ha cambiado su dirección o si ha habido algún cambio en su cuenta del Banco Agromercantil (BAM). Recomendamos que Usted verifique con BAM que su cuenta se encuentre activa, o aperture una cuenta de Dólares de los Estados Unidos de América si aún no la tiene.

Toda correspondencia referente estos asuntos se deberá enviar a bibinfo@bb.pwc.com. No podemos garantizar que correos enviados directamente a miembros individuales del equipo PwC sean procesados en tiempo para la distribución.

Información adicional se publicará en este sitio una vez esté disponible.


Status of the File as of March 23, 2010

31 KB Status of the File as of March 23, 2010

Status of the File as of January 4, 2010

Please see below for a report to the Barbados Court, dated November 13, 2009.


Status of the File as of November 12, 2009

31 KB Status of the File as of November 12, 2009
120 KB Letter to Central Bank of Guatemala dated November 5, 2009
35 KB Carta al Banco Central de Guatemala, de fecha 5 de noviembre 2009

Status of the File as of July 16, 2009 — Estado del proceso al 16 de julio de 2009 (English/Espanol)

31 KB Status of the File as of July 16, 2009 — Estado del proceso al 16 de julio de 2009 (in English and Spanish)
126 KB BIB Claims Flowchart/Diagrama de Flujo de Reclamos BIB
90 KB General Summary July 16, 2009/Resumen General 16 de julio 2009
14 KB D1R5 Summary July 16, 2009
54 KB D2R1 Summary July 16, 2005

31 KB Status of the file as of June 10, 2009 (in English and Spanish)
31 KB D1R4 Summary June 10 2009
31 KB General Account Summary Jun 2009

31 KB Status of the file as of April 27, 2009. (in English)
25 KB Status of the file as of April 27, 2009. (in Spanish)
204 KB Status of the File as of/ Estado del caso, al - 7 de abril de 2009
14 KB Status of the File as of March 11, 2009 — Estado del proceso al 11 de Marzo de 2009
[December 23, 2008]
Nuestras disculpas por el retraso en la Ronda 3 de la Primera Distribución, un número de dificultades relacionadas con la recuperación de activos de Bancafe International Bank Ltd., nos impidieron poderlo hacer antes. Le estaremos reportando a la Corte de Barbados en Enero de 2009 sobre nuestras acciones de los últimos meses del 2008 y dicho reporte será publicado en esta página web.

Las instrucciones de pago para la Ronda 3 de la Primera Distribución han sido enviadas a nuestro Banco para iniciar con el proceso el 23 de Diciembre de 2008. Tal y como lo hicimos en anteriores ocasiones el pago se realizará de dos formas: a) Mediante acreditación a su cuenta en Banco Agromercantil (BA) si Usted nos proporcionó dicha información, o 2) Por cheque de caja el cual será enviado a la dirección que Usted nos ha proporcionado.

Si Usted nos ha provisto con su número de cuenta en BA favor tomar en consideración el tiempo que se requiere para transferir los fondos a Guatemala así como de los próximos feriados Navideños antes de revisar la acreditación a su cuenta en BA.

Para aquellas personas que estarán recibiendo un cheque de caja, una nueva publicación se hará en esta página web indicando cuando el Custodio haya recibido dichos cheques y hayan sido enviados a Guatemala.

El día 13 de Noviembre de 2008 nosotros publicamos un listado de depositantes que recibirían pago en la Tercera Ronda como (Listado A), pero hemos enmendado este listado, los números de cuenta que indicamos abajo fueron originalmente listados como elegibles para pago en (Listado A) pero este ya no es el caso. Las razones por las cuales su cuenta no será pagada en este momento pueden ser cualquiera de las siguientes:
  • La acción legal que Usted entabló en contra del Custodio (y/o activos de BIB) en Guatemala no ha sido totalmente finalizada;
  • Podemos haber descubierto que Usted tiene un préstamo pendiente de pago con BIB. Nosotros vamos a necesitar contactarle con respecto a este préstamo, y en estas instancias estaremos compensando el saldo de su préstamo contra el saldo de su acreduria en BIB. Después de esto necesitaremos determinar si existe un saldo a su favor en su cuenta de depósitos monetarios para poder participar en las distribuciones.
  • Usted ha recibido un pago del Fideicomiso FAS para lo cual le rogamos ver la siguiente explicación:
Si Usted ha participado en el Fideicomiso FAS Usted actualmente no es elegible para un pago de Distribución estamos revisando esta consideración con nuestros Abogados y tendremos una determinación final sobre el mismo a finales del mes de Enero. Existen varios aspectos que estamos considerando con respecto al Fideicomiso FAs.

  • Tienen los depositantes el derecho a recuperar de sus depósitos fuera del proceso de la liquidación de BIB?
  • El Fideicomiso FAS liquidó activos propiedad de BIB?
  • Tienen los depositantes que no han recibido pagos del Fideicomiso FAS desventajas en cuanto a aquéllos depositantes que sí han recibido pagos del Fideicomiso FAS?
  • Cuando los depositantes participaron en el Fideicomiso ellos asignaron su reclamo al Fideicomiso y por ende ¿Tiene el Fideicomiso el derecho a someter un reclamo en contra de los activos de BIB?
Los pagos relacionados a la participación del Fideicomiso FAS se estarán manteniendo en reserva. Una vez tengamos una opinión legal en cuanto al tema del Fideicomiso FAS nuestra política será publicada en esta página web y los pagos serán retenidos o realizados según corresponda.

70 KB Listado "A" Revisado muestra las cuentas elegibles para pago de la Primera Distribución, de fecha 23 de Diciembre de 2008.
70 KB Explicación de las Cuentas que se han removido del Listado A desde el 13 de Noviembre de 2008.

 

[December 23, 2008]
We apologise for the delay in the issuance of Distribution 1 Round 3. A number of delays were experienced as we were busy resolving issues related to the recovery of additional assets of Bancafé International Bank. We will be reporting to the Court in Barbados in January 2009 on our actions over the latter part of 2008 and the report will be posted on this website.

Payment instructions for Distribution 1 Round 3 were forwarded to our bank for execution on December 23, 2008.

As before, payments will be made in two ways; 1) by credit to your Banco Agromercantil ("BA") account, if you have provided us with that information, or 2) by bank draft (check), to be delivered to your address of record.

If you have provided us with a Banco Agromercantil ("BA")account number please take into account the time required to wire the funds to Guatemala as well as the upcoming Christmas holiday before checking your BA account.

For those of you who are receiving a bank draft, another notice will be published on this website indicating when the Custodian has collected the drafts and they have been forwarded on to Guatemala, for ultimate delivery to depositors.

On November 13, 2008 we posted a preliminary list of depositors who would be paid in Round 3 in "List A", but we have since amended this list. The account numbers listed below were formerly listed as eligible for payment in "List A", but this is no longer the case. The reason that your account cannot be paid at this time could be as follows:
  • The legal action that you commenced against the Custodian (and/or the assets of BIB) in Guatemala has not as yet been properly or fully removed.
  • It may have been discovered that you have a loan outstanding with BIB. We will need to contact you regarding this loan and in these instances we will setting off the balance of the loan against the full balance of your account with BIB. We will then need to determine if there is a balance remaining on your deposit or current account such that you can participate in the distributions.
  • You have received a payment from the FAS Trust, see below for further explanation.
If you have participated in the FAS Trust you are presently not eligible for a distribution payment. We are reviewing this position with our attorneys and we will make a final determination in late January. There are many issues we are considering in respect of the FAS Trust:

  • Do depositors have the right to seek recovery of their deposit outside of the BIB liquidation?
  • Did the FAS Trust liquidate any assets that were the property of BIB?
  • Are depositors who have not received FAS Trust funds disadvantaged if payments are made to depositors who did receive FAS Trust payments?
  • When depositors participated in the Trust they assigned their claim to the Trust and thus does the Trust have a legal right to submit a claim in the BIB Estate?
Payments that are being held due to participation in the FAS Trust are being held in reserve. Once a legal opinion resolves the FAS Trust issue, our policy will be posted on this website and payments will be release or withheld accordingly.

70 KB Revised List "A" showing accounts eligible for Distribution 1 Payment, dated December 23, 2008.
70 KB Explanation of Accounts removed from List "A" since November 13, 2008.

 
[November 12, 2008]
En preparación para la Tercera Ronda de la Primera Distribución, quisiéramos pedirles a todos los cuentahabientes de BIB que se encuentran en la lista "A", y que aún no han enviado su número de cuenta en dólares en Banco Agromercantil (monetarios o ahorros) que lo hagan al número de fax +1 246 427 0676 o email bibinfo@bb.pwc.com a efectos de poder enviarles una transferencia electrónica para que los fondos estén inmediatamente disponibles

Si usted no envía su número de cuenta usted recibirá un cheque de caja lo que significa que no tendrá acceso inmediato a los fondos sino potencialmente en un período de un mes.

70 KB List-Lista "A", , dated November 12, 2008.
44 KB List-Lista "B", , dated November 12, 2008.
26 KB List-Lista "C", , dated November 12, 2008.
24 KB List-Lista "D", , dated November 12, 2008.


In preparation for the Third Round of the First Distribution, we hereby request that all accountholders of BIB who are on list "A", and that have not sent their account number in US dollars of Banco Agromercantil ("BA") (monetary or savings), send their BA account number to our fax number +1 246 427 0676 or email bibinfo@bb.pwc.com so that we are able to transfer the funds and such funds are immediately available.

If you do not send the account number you will receive a bank draft which would mean that you would not have access to your funds for potentially as long as a month.
 
First Distribution — Round 3

We are presently finalising arrangements to pay approximately 500 people who have satisfied the requirements to be paid. Updated claim status lists will be posted next week. This payment will be made to your Banco Agromercantil accounts in the next 2-3 weeks. For those of you who have not provided us with a BA account number, you will receiver a bank draft which will be mailed out in the next 2-3 weeks.

Second Distribution

The timeline for the Second Distribution is dependant on the following criteria:
  1. We are still in the process of collecting loan assets which BIB had in Guatemala. Once we have collected sufficient funds we will make another distribution. Our attorneys in Guatemala are assisting us in this process. This is a case by case discussion with debtors and an analysis of our recovery options and thus it is likely to take some time.

  2. We are in the process of investigating whether we will be taking legal action against various directors of BIB and other connected individuals. This strategy will take time as it is legally based and additionally we will need to identify assets for recovery such that we can make a distribution.

  3. In order to take the necessary legal actions we had to reserve funds in order to pay for these actions.

  4. We need to determine the likelihood of success in the above actions before we can release the reserve and thereafter distribute the amount to depositors. If we determine early in the process that we are unlikely to be successful, then a distribution of the reserve can be made. However, if the legal action proceeds any legal action we take will take time, perhaps 1-2 years in order to be able to determine the success.

In summary the second distribution is at least 3-4 months away and in the first instance is dependant on our ability to collect the loan portfolio. In the second instance, the next distribution is dependent on the success of legal actions.
 
[July 21, 2008]
A partir del próximo 4 de Agosto, 2008 el Custodio llevará a cabo la segunda ronda de los pagos a los depositantes que hayan sido aprobados en la primera distribución. Estos pagos se realizarán a todos los depositantes cuyos reclamos hayan sido aceptados a partir de la primera ronda de pagos realizada el pasado mes de mayo.

34 KB Aviso Para Depositantes de Bancafé International Bank Re: La Segunda Ronda de la Primera Distribución, con fecha 24 Julio 2008

Beginning on August 4, 2008 the Custodian will begin to make the second round of payments to proven depositors under the First Distribution. These payments will be made to all depositors whose claims have been accepted since the First Round of payments was made last May.

34 KB Update For Depositors Of Bancafe International Bank re: Second Round Of The First Distribution, dated July 24, 2008

35 KB Preguntas Frecuentes sobre la segunda ronda de la primera distribución de depositantes de BIB - Frequently Asked Questions about the second round of payments of the first distribution to depositors of BIB, dated July 24, 2008

 
[July 10, 2008]
Please see below for updated Lists showing the current status of depositor accounts.

List "A": This is a list of accounts for which ALL information and supporting documents have been received and which are in good order. If you are on this list, then you have either already received your First Distribution payment in Round 1 or you are scheduled to receive it during Round 2, which will begin later in July, 2008.

45 KB List "A", dated July 10, 2008

Payment Calculator, determine the amount of your payment in advance.

List "B": This is a list of accounts for which SOME or all information and supporting documents have been received. If you are on this list, we have received your claim but, with a few exceptions, we cannot yet accept your claim. If you are on this list, we have calculated your payment based on the bank's records and are holding your payment in reserve until your claim is finalised. You should have received a notice from us stating what information is outstanding. If your account is on this list and has a decision code 1 next to it, your payment has been held for one of several possible reasons such as; you have initiated litigation against BIB in Guatemala but have not yet withdrawn your claim (many are still pending); or, your account is listed as collateral for a back-to-back loan; or, you have an outstanding loan with BIB which has yet to be collected.

46 KB List "B", dated July 10, 2008

List "C": This is a list of accounts for which we have received NO claim. If your account is on this list, it is possible that we did not have a valid address for you. If you appear on this list and would like to file a claim, please email bibinfo@bb.pwc.com and provide your name, account number(s) and address so that we can update our files and get you started in the process.

26 KB List "C", dated July 10, 2008

List "D": This is a list of accounts for which a claim has been received, however, due to the timing of receipt of the claim, it is still PENDING. Upon final review of your claim, your will receive a notice of the status of your claim and, if approved, will be eligible for a later round of payments of Distribution 1.

25 KB List "D", dated July 10, 2008

 
[June 12, 2008]
Please see below for updated Lists showing the current status of depositor accounts.

49 KB List "A", dated June 11, 2008
59 KB List "B", dated June 11, 2008
26 KB List "C", dated June 11, 2008

Payment Calculator, determine the amount of your payment in advance.
[May 12, 2008]
AVISO IMPORTANTE: Para todos los depositantes que fueron programados para recoger sus cheques de acuerdo al listado de fecha 1 de mayo de 2008, les agradeceremos tomar nota que podrán asistir a las 7a. Avenida 6-17 de la Zona 9, Ciudad Guatemala, cualquier día de esta semana (Mayo 12-16, 2008) entre las 9 a.m. y las 5 p.m. a recoger su cheque.

IMPORTANT NOTICE: To all depositors who were scheduled to pick up checks as per the list dated May 1, 2008, please note that you may attend at 7a. Avenida 6-17 de la Zona 9, Ciudad Guatemala, any day of this week (May 12-16, 2008) between 9am and 5pm to pick up your check. If you do not pick up your check by 5pm on May 16, it will be returned to Barbados

13 KB Statistics: Distribution 1, updated May 12, 2008

Payment Calculator, determine the amount of your payment in advance.
[May 7, 2008]
See Below for statistics relating to the First Distribution, which is currently underway:

13 KB Statistics: Distribution 1, dated May 7, 2008

A new List "A" has been prepared to include those accounts which have been finalised since the List A dated May 1, 2008. This updated list identifies Accepted and finalised claims that have been scheduled for delivery between May 5 - 16, 2008 ("D1R1") as well as another 179 (as of today) that will now be eligible for payment in the second Round ("D1R2"). A date for D1R2 has not yet been set but it will follow the first Round.

47 KB List "A", dated May 7, 2008

You may now enter the amount of your Accepted Claim (the amount confirmed to you by the Custodian) to calculate the amount that you are scheduled to receive in this First Distribution.

Calculate your Distribution 1 Payment
Please enter your Accepted Claim amount, without commas, to calculate your Distribution 1 payment. Favor ingresar el monto aprobado de su reclamo, sin comas, para calcular el pago que recibirá en la primera ronda de la Primera Distribución.
Enter Your Accepted Claim —>
First Part of Payment, up to first $2500
  Basis for Pro Rata  
  Pro Rata % 10.45477%  
Second Part of Payment
 
Your Total Distribution 1 Payment
Percentage Recovered:
Unpaid Balance:
This calculation is intended for information purposes and the resulting number may not agree exactly with your check. Please refer to the document "Important information about the payment process" for additional information.

Este cálculo fue preparado para propósitos informativos y el número que resulte puede no coincidir exactamente con su cheque. Favor referirse a "Important information about the payment process" para información adicional.
[May 5, 2008]
Today the process of delivering payments under the First Distribution to proven Depositors of BIB began.

You may now enter the amount of your Accepted Claim (the amount confirmed to you by the Custodian) to calculate the amount that you are scheduled to receive in this First Distribution.

Thanks to the patience and orderly conduct of depositors scheduled for payment today, the payment process has been running ahead of schedule. Therefore, depositors are now invited to attend at the delivery location up to 2 days in advance of their scheduled delivery date (Pickup Location and Schedule of Dates assigned to Depositors). All other conditions of delivery still apply. Please see earlier postings below for detailed information about where to go and what to bring with you.

El día de hoy inició el proceso de entrega de los pagos derivados de la Primera Distribución a los depositantes del BIB que fueron aprobados.

Usted puede acceder al monto de su Reclamación Aceptada (el monto que le fuera confirmado a usted por el Custodio) para calcular la cantidad que está prevista que Usted recibirá en esta Primera Distribución.

Agradecemos la paciencia y la conducción ordenada de los depositantes cuyo pago está previsto para el día de hoy, el proceso de pago se ha estado llevando a cabo antes de lo previsto. Por lo tanto, los depositantes son invitados a asistir al lugar de entrega hasta 2 días antes de la fecha de entrega prevista (Pickup Location and Schedule of Dates assigned to Depositors). Todas las demás condiciones de entrega siguen siendo válidas. Por favor, consulte las publicaciones previas que se encuentran a continuación para obtener información detallada acerca de dónde debe ir y qué debe llevar consigo.
[May 1, 2008]
IMPORTANT Information Concerning Payments Scheduled for May 5-16, 2008

The First Distribution to Depositors with complete and Accepted claims will take place beginning on May 5, 2008 and will run until May 16, 2008. If your account appears on List "A" below, please see the following documents for important information and details about where and when you can pickup your payment.

IMPORTANTE Información Relacionada con Los Pagos Programados del 5 al 16 de mayo 2008

La Primera Distribución a los Depositantes con reclamos completos y Aceptados se efectuará a partir del 5 de mayo de 2008, y continuará hasta el 16 de mayo de 2008. Si su cuenta aparece abajo, en Lista "A", por favor vea los siguientes documentos para información importante y detalles acerca de dónde y cuándo Usted puede recoger su pago.

IMPORTANT - YOU MAY ONLY PICKUP YOUR PAYMENT ON THE DATE ASSIGNED TO YOU, IF YOU COME IN ON A DIFFERENT DATE, YOUR PAYMENT WILL NOT BE AVAILABLE AND YOU WILL NOT BE GIVEN ACCESS TO THE PREMISES.


Two days are reserved at the end of the distribution period for those people who are not able to attend on their scheduled day. If you miss both of these opportunities to pick up your payment, your payment will be held until the next scheduled payment period "Round 2", the date for which has not yet been determined.

IMPORTANTE – USTED PUEDE RECOGER SU PAGO UNICAMENTE EN LA FECHA ASIGNADA, SI USTED VIENE EN UNA FECHA DISTINTA, SU PAGO NO ESTARA DISPONIBLE Y NO TENDRA ACCESO A LAS INSTALACIONES.


Han sido reservados dos días al final del período de distribución, para aquellas personas que no hayan podido acudir en la fecha que les fuera programada. Si Usted pierde ambas de estas oportunidades para recoger su pago, su pago será retenido hasta el próximo período de entrega programado "Ronda 2", cuya fecha aún no ha sido determinada.

70 KB Pickup Location and Schedule of Dates assigned to Depositors, dated May 1, 2008
25 KB Important information about the payment process, dated May 1, 2008

Update on Status of Accounts

Please consult the following lists of account to determine the current status of your claims. These lists supercede any Lists previously posted to this website.

List "A": This is a list of accounts for which ALL information and supporting documents have been received and which are in good order. If you are on this list, then you are scheduled to receive your First Distribution payment. Please see the "Schedule of Dates assigned to account holders" above to find the address and your assigned day for pickup of your payment. You can determine the amount of your payment by referring to the sample calculation in the pamphlet below, which will also be available onsite during the delivery period of May 5-16.

36 KB List "A", dated May 1, 2008

List "B": This is a list of accounts for which SOME or all information and supporting documents have been received. If you are on this list, we have received your claim but, with a few exceptions, we cannot yet accept your claim. It is possible that a small number of depositors completed their files too late to be included on List A for this round of payments. In any case, if you are on this list, we have calculated your payment based on the bank's records and are holding your payment in reserve until your claim is finalised. You should have received a notice from us stating what information is outstanding. It is possible that your documents have been received but not yet processed due to the large volume of documents being received by our staff. Please check these lists as they will be updated as we progress.

60 KB List "B", dated May 1, 2008

List "C": This is a list of accounts for which we have received NO claim. If your account is on this list, it is possible that we did not have a valid address for you. If you appear on this list and would like to file a cliam, please email bibinfo@bb.pwc.com and provide your name, account number(s) and address so that we can update our files and get you started in the process.

26 KB List "C", dated May 1, 2008
[Apr 21, 2008]
Please see the following documents for information concerning the timing and process for the upcoming payment of the First Distribution.

24 KB Questions and Answers Regarding Distribution Payment, dated April 22, 2008
20 KB Preguntas Y Respuestas Sobre El Proceso Para La Primera Distribución, dated April 23, 2008
25 KB Explanation and Sample Calculations for Upcoming Payments, dated April 21, 2008
[Apr 4, 2008]
As we approach the first payment of the First Interim Distribution to Creditors of Bancafe International Bank, our processing team continues to receive and evaluate depositor claims (over 2,500 claims have been received to date).

On March 27, 2008, we posted a list of depositors who, as of that date, had provided ALL of the necessary supporting documentation and were therefore eligible for the first payment of the First Interim Dividend. That list was posted below as List-Lista "A". Since March 27, hundreds of additional claims have been processed and almost 100 more claims have been finalised. Those depositors are now also eligible to receive the first payment of the First Interim Distribution. Please see below for an updated List-Lista "A" of accounts currently approved to receive the first payment, which is now being finalised. Please note that this list is believed to be accurate based on information currently on file but it is subject to final review and approval. Please check this website for a final list which will be posted on the day the payments are to be transmitted to depositors.

We have also updated List-Lista "B" to include all claims received to date and an indication of the status of each claim.

If you do not see your account number on the updated List-Lista "A", one of three situations may apply:

  1. Your claim has been received but there are still outstanding information or documentation to be filed with the Custodian before your claim can be finalised. If this is the case, you should appear on the updated List-Lista "B" and, if you have not already, you will receive a letter indicating specifically what is required of you to complete your file.
     
  2. Your claim has been received in our fax, email box, or in a shipment from Cargo Expreso but has not yet been processed due to the volume of incoming submissions. If this is the case, it is likely that your claim was received after the deadline of February 28, 2008 and you will not appear on the updated List-Lista "B". As mentioned above, we continue to process claims as they come in and we are working on clearing our backlog. Please check back for periodic updates of List-Lista "B". This may mean a slight delay in receipt of your payment, however, there will be multiple "Rounds" of payment of the First Interim Distribution and you will be eligible for one of these later "Rounds" once your claim has been finalised.
     
  3. We did not receive any claim from you. If this is the case, your account will not appear on either of the updated Lists "A" or "B". Please ensure that you have sent your claim; if you have, please refer to point 2) above.
33 KB List-Lista "A", dated April 4, 2008
65 KB List-Lista "B", dated April 4, 2008
[Mar 27, 2008]
Several questions and concerns have been brought to the attention of the Custodian concerning the procedures and status of the claims process. Please see below for an important update on this matter.
18 KB Important Update on Claims Process
32 KB List-Lista "A", dated March 27, 2008
60 KB List-Lista "B", dated March 27, 2008
16 KB List-Lista "C", dated March 27, 2008
[Mar 6, 2008]
Please take notice that pursuant to the International Financial Services Act CAP 325 of the laws of Barbados, PricewaterhouseCoopers Inc. the Custodian of Bancafe International Bank Ltd. has prepared a schedule of actions proposed to be given for the purpose of the compulsorily winding up of the said Bancafe International Bank Ltd. and that the said Schedule of Actions will be available for inspection at www.pwc.com/car-bib. Objectors have 20 days from March 3rd of 2008 to file an objection in the Courts of Barbados.
73 KB Schedule of Actions, dated March 3, 3008
20 KB Schedule of Actions, dated March 3, 3008 - en Español
[Mar 4, 2008]
Please see below for important information you need to know about the Bancafe International Bank claims process.
12 KB 10 Things you need to know about the BANCAFE Claim Process
14 KB 10 Things you need to know about the BANCAFE Claim Process - en Español
27 KB Claims Process Decision Diagram
28 KB Claims Process Decision Diagrams - en Español
[Feb 19, 2008]

Actualización de la Información del Proceso Con Respecto a las Reclamos y Declaraciones Necesarias


Muchos de los cuentahabientes han recibido su carta (s) que confirma la condición de su reaclamo (s) con el Custodio y han pedido que se aclare acerca de la declaración que se encuentra en las cartas a continuación.

Por favor tenga en cuenta que la firma en el formulario de declaración DEBE SER LEGALIZADA POR NOTARIO. La firma de la declaración DEBE SER IGUAL a la firma al original de la Reclamo. Si no se satisface ninguno de estos criterios PROVOCARA UN RETRASO en el pago de su primera distribución.

Toda declaración debe ser enviada al nuestro equipo en Barbados, ya sea por FAX al +1 246 427 0676 o email al bibinfo@bb.pwc.com.

Toda correspondencia con respecto a su reclamo DEBE ser dirigida al equipo a bibinfo@bb.pwc.com. Por favor no envíe sus correos directamente al personal de PricewaterhouseCoopers, ya que estas personas no están involucradas directamente en el proceso de reclamo y no tendrán acceso a toda la información necesaria. Puede también enviar su respuesta a Cargo Expresso a la siguiente dirección:

PricewaterhouseCoopers EC Inc.,
Custodio para Bancafe Internacional Bank Ltd.,
C/O CAEX D6, Diagonal 6 11-97 Zona 10,
Edificio Internaciones, Local 101,
Guatemala, Centro América.


Existen algunos cuentahabientes que ya enviaron su información de Banco Agromercantil al Custodio, pero obviaron enviar su declaración. Si por algún caso olvido enviar la declaración, por favor firmarla y legalícela con notario, y envíela como se le instruye a continuación.

Cada reclamo es importante para nosotros y estamos adoptando todas las medidas necesarias para asegurar que cada reclamo sea atendido justamente. Si existe complicación con su reclamo y un retraso es necesario, su potencial de pago será retenido en reserva hasta que el Custodio tenga la oportunidad de resolver todas las cuestiones pendientes. Cuando y si su reclamo es, en última instancia admitido, usted tendrá oportunidad de "ponerse al día" y recibir su primer pago en una fecha posterior.

Su paciencia y ayuda es muy apreciada en lo que logramos resolver este proceso extraordinario.

Muchas Gracias,
El Custodio de Bancafe International Bank Ltd.

 


 


Information Update Regarding Claims Process and Declarations Required


Many account holders have received their letter(s) confirming the status of their claim(s) with the Custodian and have asked for clarification about the declaration found in the letters below.

Please not that the signature on the declaration form MUST BE NOTARIZED. The signature on the Declaration MUST MATCH the signature on the original claim. Failure to meet either of these criteria WILL RESULT IN A DELAY in the payment of your first distribution payment.

All declarations must be sent to our Barbados processing team EITHER by fax at +1 246 427 0676 OR by email at bibinfo@bb.pwc.com.

All correspondence regarding your claim MUST be directed through the processing team at bibinfo@bb.pwc.com. Please do not send emails directly to PricewaterhouseCoopers staff as these individuals are not directly involved in processing claims and will not have access to all of the necessary information. You may also send your response to Cargo Expresso at the following address:

PricewaterhouseCoopers EC Inc.,
Custodian for Bancafe International Bank Ltd.,
C/O CAEX D6, Diagonal 6 11-97 Zona 10,
Edificio Internaciones, Local 101,
Guatemala, Centro America
.

There are some account holders who have already forwarded their Banco Agromercantile information to the Custodian, but neglected to send their declaration. If you think you have forgotten to send the declaration, please have it signed and notarised and forward as instructed below.

Please be assured that every claim is important to us and we are taking all necessary steps to ensure that each claim is treated fairly. If there is a complication with your claim and a delay is necessary, your potential payment will be held in reserve until the Custodian has had the opportunity to resolve any outstanding issues. When and if your claim is ultimately admitted, you will be able to "catch up" and receive your first payment at a later date.

Your patience and assistance is greatly appreciated as we make our way through this extraordinary process.

Thank you,
The Custodian of Bancafe International Bank
[Feb 1, 2008]
Claims Process - During the latter two weeks of January, 2008, all claims received to date by the Custodian had been process and individual responses have been issued from Barbados. Please allow several weeks for delivery. The response letters contain detailed instructions as to the next steps and actions required by depositors. Please read the letter closely and follow the instructions. Samples of the letters appear below. Please consult the chart titled "Decision Codes" to determine the status of your claim.
62 KB Decision Codes
43 KB Allowance of Claim (Decision code 1 and 2)
55 KB Disallowance of Claim - Specific (Decision code 6)
64 KB Disallowance of Claim - General (Decision Code 3, 4, or 5)

Press Release - On January 31, 2008, a Press Release was issued to the Siglo XXI of Guatemalan press; on February 3, 2008, it will be issued once more in the Prensa Libre. Please see below for a copy of the release in English and Spanish.
20 KB Press Release, dated January 31, 2008
20 KB Aviso de Prensa, 31 enero, 2008 - en Español
[Dec 11, 2007]
Please see the Reports section below for the First Report of the Liquidator to the High Court of Justice of Barbados.
304 KB Notice to Depositors - Aviso Para Los Depositantes, dated December 11, 2007
[Oct 1, 2007]
39 KB Information about Account Statements - Información Sobre Estados de Cuenta, dated October 1, 2007
[Sep 7, 2007]
391 KB Información Sobre Estados de Cuenta, dated September 7, 2007
[Aug 31, 2007]
43 KB Information on Account Statements - Información Sobre Estados de Cuenta, dated August 30, 2007
[Jun 1, 2007]
Updated Frequently Asked Questions are available below.
[May 9, 2007]
Please see the following for an update on several issues related to the Custodianship.
27 KB Status Update, dated May 9, 2007
32 KB Actualización, 9 mayo, 2007 - en Español

On May 8, 2007, a Press Release was issued to the Guatemalan press. Please see below for a copy of the release in English and Spanish.
27 KB Press Release, dated May 8, 2007
26 KB Aviso de Prensa, 8 mayo, 2007 - en Español
[Feb 14, 2007]
Upon hearing the application filed by the Custodian in the High Court of Justice of Barbados on January 19, 2007 (as described below), the Court ordered that, among other things, the agreement reached between the Custodian and the Refco Trustee be approved. A copy of the order is available in English below.

Con base en la solicitud presentada por el Custodio ante la Corte Suprema de Justicia de Barbados, el 19 de enero de 2007 (descrita mas adelante), la Corte ordenó, entre otras asuntos, que el acuerdo convenido entre el Custodio y el fiduciario de Refco sea aprobado. Una copia de dicha orden se encuentra disponible en idioma inglés a continuación.
[Jan 31, 2007]
On Friday January 19, 2007, the Custodian filed an application with the Court in Barbados asking the Court to sanction an agreement reached with the Refco Trustee to admit Bancafe International Bank's claim in the Refco bankruptcy in the net amount of approximately $51.7 million. The application was heard by the Court on Wednesday, January 24, 2007. A copy of the documents, as filed with the Barbados Court, are available below.

El viernes, 19 de enero del año en curso, el Custodio presentó una solicitud ante la Corte de Barbados solicitándole a la Corte sancionar un acuerdo al cual se llegó con el fiduciario de Refco para reconocer la demanda de Bancafe International Bank Ltd. en el proceso de quiebra de Refco por un monto neto de aproximadamente US$51.7 millones. La solicitud fue conocida por la corte el miércoles, 24 de enero del año en curso. La copia de los documentos presentados en la Corte de Barbados está disponible en la parte inferior.
[Jan 16, 2007]
On January 12, 2007, an Order was issued by the United States under Chapter 15 of the US Bankruptcy code recognizing the Custodian's appointment by the Barbados Court as a foreign main proceeding under the laws of the United States. The recognition extends the force and effect of the Barbados Winding Up Order to the jurisdiction of the United States for, among other things, the purposes of identifying and recovering any of Bancafe International Bank Limited's assets which may be located in the United States. See below for the Order granting recognition under Chapter 15 and a follow-on order relieving the "Refco Trustee" from the resulting automatic stay of proceedings.
[Dec 10, 2006]
On November 29, 2006 pursuant to an application made by the Central Bank of Barbados, PricewaterhouseCoopers, E.C. Inc. was appointed as Custodian of Bancafe International Bank Ltd. A copy of the Order may be accessed below in both English and Spanish. Additional information will be posted to this site as it becomes available.


This Web site will be updated as information becomes available.

 


Frequently Asked Questions:
 

57 KB Preguntas y Respuestas Frecuentes, dated June 1, 2006
58 KB Frequently Asked Questions, dated June 1, 2006


 


Reports to Court:
 

430 KB Second Report of the Custodian, dated November 13, 2009
3.38 MB First Report of the Custodian, dated August 24, 2007
299 KB Primer informe del Custodio en Espanol con fecha 24 agosto 2007


 


Notices to Creditors:
 

90 KB Notice to Depositors and Creditors (Aviso en Español), dated December 10, 2006
87 KB Notice to Depositors and Creditors, dated December 10, 2006


 


Court Orders and Related Documents:
 

41 KB High Court of Justice of Barbados - Order to Approve Agreement Between the Custodian and Refco Trustee (English only) - dated January 24, 2007
Corte Suprema de Justicia de Barbados- Orden para sancionar acuerdo entre el Custodio y fiduciario de Refco (solo Inglés) - de fecha 24 de enero de 2007
2.21 MB High Court of Justice of Barbados - Application filed by the Custodian, dated January 24, 2007
Application seeking Barbados Court sanctioning of an agreement with the Refco Trustee to admit Bancafe International Bank's claim in the Refco bankruptcy.

Solicitud a Corte de Barbados para sancionar acuerdo con fiduciario de Refco para reconocer demanda de Bancafe International Bank Ltd. en proceso de quiebra de Refco.
180 KB US Bankruptcy Court Chapter 15 Order Granting Recognition of Foreign Main Proceeding, dated January 12, 2007
80 KB US Bankruptcy Court Order Granting Relief From Automatic Stay To Refco Trustee, dated January 12, 2007
86 KB US Bankruptcy Court Notice of Filing and Hearing, dated December 21, 2006
Notice of Filing and Hearing on Petition Under Chapter 15 Seeking Recognition of Foreign Main Proceeding and Granting Related Relief.
79 KB US Bankruptcy Court Order Re Ch. 15 Petition for Foreign Recognition, dated December 20, 2006
Order granting ex-parte omnibus motion to (a) approve form, manner, method, and recipients of notice, (b) approve manner and method of communication between court and foreign representative, and (c) schedule hearing on verified petition for recognition of foreign main proceeding.
33 KB Appointment Order (Aviso en Español), dated November 29, 2006
368 KB Appointment Order, dated November 29, 2006
Appointed Custodian, pursuant to the provisions under section 69 of the International Financial Services Act, No. 5 of 2002 of the Laws of Barbados


 


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