June 6, 2016 - BPA’s Shareholders Sue Andorran Authorities for over €364.6 Million In Damages

In June 2016, the Cierco family filed suit against the Andorran Government and the Andorran National Institute of Finance (INAF) for the damages caused to BPA as a result of the reckless negligent and arbitrary actions of the bank's administration after it was expropriated by the Andorran authorities following FinCEN’s notice. Despite numerous warnings and requests to avoid unnecessary and destructive actions, the mismanagement by the Andorran authorities has caused damages of over €364.6 million, as concluded by two independent valuators.