Migration & Liquidation Update: Dec 5, 2022
Thank you for your continued patience. We wanted to let you know that the Receiver appointed by the Puerto Rican government to oversee the liquidation process continues to work with the correspondent bank to process all outgoing wires for opt-out clients as well as the wires for opt-in clients, however, we still do not have a clear indication as to when their process will end. Your frustration is shared and understood.
Until these parties have completed the liquidation process, no one will have access to funds held at the correspondent financial institution – neither the opt-out clients, nor Qenta for the opt-in clients. Unfortunately, the team at Euro Pacific Bank/Qenta do not have any control over the speed of this process between the Receiver and the correspondent bank.
Please rest assured that the moment we receive approval to proceed with the transfers the operations team is standing by ready to complete these actions immediately.
In the meantime, we will also continue to follow up and provide further updates to all customers as soon as they become available.
As always, if any questions please feel free to reach out to us directly at email@example.com or if you need to escalate, you can email firstname.lastname@example.org.