Bancafe International Bank Ltd. ("Bancafe")

In Custodianship

Page last updated: July 25, 2018 
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 February 28, 2018

590 KB Status of the File as of February 28, 2018 (ENG and ESP)

Status of the File as of November 17, 2015

590 KB Status of the File as of November 17, 2015 (ENG and ESP)

Status of the File as of March 20, 2015

590 KB Status of the File as of March 20, 2015 (ENG and ESP)

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)

Status of the File as of February 12, 2013/Estado del Expediente al 12 de febrero de 2013

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Status of the File as of June 12, 2012

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

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/Estado del caso al 25 de Junio de 2010

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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 second 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

As at 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

As at 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

As at Oct 1, 2007

39 KB Information about Account Statements - Información Sobre Estados de Cuenta , dated October 1, 2007

As at Sep 7, 2007

391 KB Información Sobre Estados de Cuenta , dated September 7, 2007

As at Aug 31, 2007

43 KB Information on Account Statements - Información Sobre Estados de Cuenta , dated August 30, 2007

As at Jun 1, 2007

Updated Frequently Asked Questions are available below.

As at 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

As at 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.

As at 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.

As at 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.

As at 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.

As at June 12, 2012

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

As at December 23, 2008

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As at November 12, 2008

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As at July 21, 2008

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As at 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

As at 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.

As at 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.

As at 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.

As at 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.

As at 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

As at 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

As at 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

As at 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

As at 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

As at 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

As at Feb 19, 2008

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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

Contact us

The Custodian

bb_bancafe_custodian@pwc.com, PwC Barbados