Consorcio has been entrusted the function of protection of creditors by insurance contract (insured persons, beneficiaries and third parties) in case the regulator orders the liquidation of an insolvent insurance company, or the own company voluntarily asks for its dissolution.
On the 14th of January, 2016, the Central Court of Instruction Number 5 of Madrid passed a court ruling by which, according to the explanatory ruling of the 15th of March, the Consorcio de Compensacion de Seguros was appointed as the legal administrator-liquidator of Eurobank del Mediterráneo, S.A. under liquidation and this entity accepted the position on the 31st of March. This organisation carried out the liquidation operations, handling the expenses and paying the payables and receivables charged to the company¿s assets. The Closing Balance, approved by the extraordinary meeting of shareholders on the 15th of July, 2022, is as follows:
PHASES AND DEADLINES OF A LIQUIDATING PROCESS
Find out the phases and deadlines to which a liquidating process of an insurance company is subjected.
WHAT IS THE PURCHASE OF CREDITS AND HOW DOES IT AFFECT YOU?
In this section we will explain what it is and how the purchase of credits will affect you.
STATUS OF THE LIQUIDATING PROCESS OF AN INSURANCE COMPANY
If an insurance company is undergoing a liquidation process, the status of this process may be consulted here.
For any queries, do not hesitate to telephone our Call Centre
If you have a motor vehicle insurance policy with a company that has entered into liquidation
You should also know that the Consorcio covers up to the legal limit of the Compulsory insurance in force on the date when the claim occurred.
The rest of the amount not covered by the Compulsory Insurance for Motor Vehicles will be the amount that the CCS itself in its liquidating function will take into consideration in the liquidation and therefore it will offer, at the approved percentage, the acquisition of your credit.
