AREB must provide the PwC reports for the BPA account reviews

The State Agency for Resolution of Banking Institutions of Andorra (AREB) must provide the reports by PricewaterhouseCoopers (PwC) for the BPA account reviews. As ordered by La Batllia (the court of Andorra), that has partially estimated the demand made by some clients of the entity to whom the agency blocked the accounts.

Some clients of BPA sued AREB in November of 2016 for not having transferred their funds to Vall Banc and having kept them blocked without explaining the reasons. They argued that this had left them helpless.

La Batllia gave them the reason in a sentence of February 6 to which RTVA has had access. It considers that the AERB did not inform the clients of the result of the analysis of their accounts, neither if they could transfer to Vall Banc, leaving them in a situation of defenselessness.

That is why the Agency of Resolution of Banking Institutions of Andorra (AREB) has been ordered to notify the clients, in a justified manner, if they are eligible to transfer to Vall Banc, attaching the reports issued by PricewaterhouseCoopers (PwC) on their accounts that support the decision. In this way, they can dispute the blockade if they think it is appropriate.

Asked about the question, the minister spokesperson, Jordi Cinca, emphasized that of the nine sentences that have been issued, six have given the reason to AERB. In the others, the form is questioned, but not the issue.
AREB may appeal against the verdict.

As reported by: Andrés González-Nandin ; www.andorradifusio.ad/noticies/la-batllia-ordena-a-lareb-lliurar-linforme-de-pricewaterhouse-coopers-a-uns-clients-bloquejats-a-bpa