Progress on restructuring ENNIA
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Progress on restructuring ENNIA

Central Bank headquarters, Curacao. Central Bank headquarters, Curacao.

SINT MAARTEN/CURACAO - As was announced at the end of last month, the Central Bank of Curaçao and Sint Maarten ("CBCS"), on behalf of ENNIA Caribe Holding NV and some of its subsidiaries ("ENNIA"), is seeking legal recognition in the United States of ENNIA's existing emergency regulations.

It was announced that the court hearing of the legal recognition in the United States (the “Recognition Hearing”) will take place on October 23, 2018.

Since last month, CBCS on behalf of ENNIA has been engaged in constructive discussions with various parties that have an interest in the relief that will be sought at the Recognition Hearing.

To encourage such discussions, which remain ongoing, the concerning parties have agreed to request, and the U.S. Court has granted, an adjournment of the Recognition Hearing to October 31, 2018, without prejudice to further adjournments that may be granted by the U.S. Court. Adjournment of hearings in the U.S. is quite common.

Any additional adjournment of the Recognition Hearing will be announced by the CBCS.

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