The Bahamas court has recognized the liquidation of Banco Master ordered by the Central Bank of Brazil and authorized the representative responsible for the liquidation to search for and manage assets of the institution and other companies in the group outside the country
The decision, made by the Supreme Court of the Bahamas on May 26, allows the EFB company, appointed as liquidator, to act on behalf of the bank to access information, recover assets, and participate in legal proceedings abroad.
The main objective is to identify resources scattered in other countries to pay creditors more fairly and efficiently.
It all began in November 2025, when the Central Bank decreed the extrajudicial liquidation of Banco Master due to serious problems.
In addition to the bank, other companies in the same group, such as a brokerage firm and an investment bank, were also included in the process.
Investigations indicate that the controller, Daniel Vorcaro, and others involved allegedly embezzled at least one billion dollars.
The suspicions include irregular operations, such as the purchase of assets at inflated prices and the granting of loans with overvalued guarantees, harming investors and depositors.
The Supreme Court of the Bahamas highlighted that the measure follows the rules of international cooperation between countries in cases of bankruptcy or liquidation.
The judges considered that the process in Brazil is collective, that is, it seeks to gather all available assets to distribute them among creditors in a balanced way, including those outside Brazil.
This authorization is an important step towards giving global reach to the liquidation.
However, the decision can still be challenged in higher courts in the Bahamas.
In short, the Bahamian Justice system reinforced its partnership with Brazil to try to recover as many resources as possible and protect those who suffered losses in the case.
Published in 06/11/2026 15h56
Text adapted by AI (Grok) and translated via Google API in the English version. Images from public image libraries or credits in the caption.
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