The BC (Central Bank) decreed this Tuesday (18) the extrajudicial liquidation of Banco Master. In the wake of the decision, the board of directors of the monetary authority also opted to enact a Temporary Special Administration Regime for another company linked to the group, the Banco Master Multiple SA.
The rule also establishes the appointment of the temporary special administrator and the unavailability of the assets of the institution’s controllers and former administrators.
The Temporary Special Administration Regime is a resolution regime that does not interrupt or suspend the normal activities of the financial institution. However, the institution’s directors lose their mandate and are replaced by a board of directors, or by a legal entity with specialization in the area, with full management powers.
As a result of the decree of the Temporary Special Administration Regime, the BC informed that the assets of the controllers and former administrators identified below are no longer available:
I – Controllers:
- Master Holding Financeira SA;
- Investimentos E Participações Ltda;
- Armando Miguel Gallo Neto;
- Daniel Bueno Vorcaro;
- Felipe Wallace Simonsen.
II – Ex-Administrators:
- Angelo Antonio Ribeiro Da Silva;
- Luiz Antonio Bull.
The was decreed less than a day after the Fictor Group indicated its interest in buying the financial institution. According to the term, the bank’s foreign exchange brokerage is also under judicial liquidation.
Operation Compliance Zero
Also this Tuesday (18), the Federal Police launched Operation Compliance Zero, which combats the issuance of false credit titles by financial institutions that are part of the SFN (National Financial System). Crimes of fraudulent management, reckless management, criminal organization, among others, are being investigated.
As part of the investigation, the PF.
Furthermore, the president of BRB, Paulo Henrique Costa, and the bank’s executive financial director, Dario Oswaldo Garcia Junior, informed the financial institution.
In March, BRB announced its intention to buy 58% of Master’s shares for R$2 billion. The acquisition process was .
