The ongoing liquidation of Banque Havilland in Liechtenstein has raised concerns about the fate of its client assets, which have significantly decreased from a peak of 1.6 billion Swiss francs.
The ongoing liquidation of Banque Havilland has sparked worries about the fate of its client assets. These assets have seen a significant decrease from their peak value of 1.6 billion Swiss francs.
There are concerns about the transfer of these assets to another bank in Liechtenstein, as delays have been experienced in transferring securities accounts.
Sigma Bank is expected to acquire some of the remaining client assets of Banque Havilland. However, this is characterized as a referral deal rather than an asset deal. The specific financial figures have not been disclosed by KPMG, the liquidator for Banque Havilland.
The liquidation process of Banque Havilland has been uncertain, especially after the revocation of its parent company's banking license by the European Central Bank. The Vaduz branch of Banque Havilland has chosen voluntary liquidation, possibly due to pressure from the Financial Markets Authority of Liechtenstein.
The unexpected departure of former CEO Fabian Käslin has added to the uncertainty surrounding the bank's future.
The regulatory environment surrounding the liquidation and asset transfer has been a concern, particularly with the lack of communication from Monaco's financial regulator. This lack of communication has further complicated the situation.
The ongoing liquidation of Banque Havilland highlights the challenges faced by financial institutions. The future of the bank and its clients remains uncertain, adding to the complexity of the situation.