Banco Nacional pleads to Waked’s lawsuit

He National Bank of Panama (BNP) assured that it acted only as a trustee in accordance with the instructions received by investors in the case of businessman Abdul Waked and the sale of Soho Mall.

The banking institution claims that it acted in accordance with its credit obligations to 10 creditor banks, limiting itself to the execution of the instructions established by the contract that the parties voluntarily signed.

A few days ago, the Third Chamber of the Supreme Court confirmed the acceptance of the claim of 1,268.7 million dollars Wake up against Banco Nacional and the State.

Banco Nacional emphasizes that it performs its banking and fiduciary activities in full compliance with the law, in good faith, market usage and customs, and applicable regulations.

“All clients of the institution voluntarily come to look for products and services, because complete, honest and professional attention is guaranteed,” he reported in the press release.

They also clarify that the process is only about admitting the claim, and It does not represent a belief.

Equally, they assure that it is a solid, stable and growing bank, which has a defense strategy that is in charge of the state attorney in the capacity of state attorney, to whom the banking institution entrusts its complete defense.

It also indicates that the insolvency or bankruptcy of the bank is legally unfeasible.

However, a process such as this one is being discussed can have a significant impact and cause very serious damage to the Panamanian state and consequently to the national economy.

The leading financial institution in the country assures that it believes that legal certainty will be respected, that justice will prevail.