2006News

Progreso shareholders take action

Banco del Progreso’s main shareholders have injected RD$14 billion into the bank to guarantee its solvency and safety of deposits. These are Roberto Bonetti, Berndt Ladurner, Jose Diez Cabral, Juan Bautista Vicini, Miguel Barletta, Rafael Perello and Andres Gustavo Pastoriza. At the same time, the leading shareholders have started legal proceedings against the former president of the bank’s board of directors, Pedro Castillo for misappropriation of RD$13 billion, as reported in Hoy newspaper. Meanwhile, Castillo is demanding that the bank fulfill its employment obligations to him, namely a pending severance payment of RD$94 million, and compensation of RD$250 million for damage to his reputation.