Compulsory liquidation procedures
Compulsory liquidation procedures for financial companies are set out in Articles 85 et seq., up to Article 98 of the CBSM Law on Enterprises and Banking, Financial and Insurance Services (LISF) and Part IV of Regulation No. 2021-02 on Administrative Procedures for Financial Companies.
The following companies are currently undergoing compulsory liquidation procedures and their respective final documentation, as outlined in Article 96 of the LISF, has not yet been submitted :
- BERFIN S.p.A.
- COMPAGNIA SAMMARINESE DI ASSICURAZIONI S.p.A.
- FINWORLD S.p.A.
- SIBI FINANZIARIA S.p.A.
- S.M.I. - SAN MARINO INVESTIMENTI S.P.A.
The following companies under compulsory liquidation are awaiting the outcomes of ongoing judicial proceedings and have not yet been removed from the Companies Register, despite having submitted the final liquidation documentation pursuant to Article 96 of the LISF:
All creditors involved in ongoing compulsory liquidation procedures and listed in the liabilities section, including those in the separate section, who wish to receive annual updates on account balances, as well as the financial report regarding the procedure by email, pursuant to Articles IV.X.1, Paragraph 3, and VI.II.5 of CBSM Regulation 2021-02, must SUBMIT A SPECIFIC REQUEST to the Liquidator(s). Please, find contact details for each procedure at the following link).
Such a request must be submitted by creditors listed in the liabilities section, including those in the separate section, before 31 January each year, and must specify the email address to which annual communications should be sent by Liquidators, even if the same address has been previously provided for other purposes.
The data provided to each creditor will cover the period starting from the first annual deadline (31 January) following the submission of the request.