Investors Seek Compensation from Silverado and Service Providers

DSC_2422This story was translated from DCI, a Brazilian business journal.  Investors in Silverado’s FIDCs (Brazilian ABS) seek compensation from the Silverado Gestão e Investimentos Ltda for damages incurred due to the collapse of at least two Silverado FIDCs: Maximum and Maximum II.  In addition, the investors are suing the administrators and custodians for the FIDCs as well as pursuing the FIDC’s manager.

This is the first time that we have seen investors seek damages from FIDC service providers and this could be a turning point in the fund industry in Brazil.  Click here to read the full report. investors-silverado-ask-for-compensation-final

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