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Follow-Up Steps in ENNIA Resolution
WILLEMSTAD/PHILIPSBURG - The Centrale Bank van Curaçao en Sint Maarten (CBCS), in close cooperation with the Governments of Curaçao and Sint Maarten and with the aim of safeguarding the interests of policyholders and other creditors, has recently made important progress on the ENNIA Group resolution (the "ENNIA Resolution"). Following the signing of an ENNIA Resolution Heads of Agreement by the CBCS and the governments of Curaçao and Sint Maarten on April 11, 2024 (the "Heads of Agreement"), an addendum was agreed upon by the parties on October 9, 2024, further elaborating on aspects of the ENNIA Resolution. This addendum in no way affects the principles set forth in the original Heads of Agreement: there will be no reduction in the policyholders’ terms.