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prima:Banker with operations in Puerto Rico must pay millions to former IUBank owners

According to a court in Panama, the Venezuelan banker, Luis Degwitz Brillembourg, did not honor the agreement to buy the financial institution and transfer it to the island

August 19, 2024 - 4:15 PM

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This content was published more than 3 months ago.
International Union Bank had until July 31 to increase its capitalization from approximately $2.7 million to $10 million. (Xavier Araújo)

San Juan, Puerto Rico - The Fourth Superior Court of the First Judicial District of Panama forced the owner of International Union Bank (IUBank), Luis G. Degwitz Brillembourg, to pay almost $2.3 million for an outstanding debt following the acquisition of the bank that previously operated from the Panamanian country.

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