Superintendent of Financial Institutions continues intervention actions re Canadian branch of Maple Bank

Today, the Superintendent of Financial Institutions took further steps to protect depositors and creditors of the Canadian branch of Maple Bank GmbH (Maple Bank) by taking permanent control of the assets of the Canadian branch, and requesting the Attorney General of Canada to apply for a winding-up order with respect to these assets under section 10.1 of the Winding-up and Restructuring Act.

On February 10, 2016, the Office of the Superintendent of Financial Institutions (OSFI) issued a news release announcing that the Superintendent had taken temporary control of the assets of the Canadian branch of Maple Bank.

The Superintendent took these actions to preserve the value of the assets of the branch.

View the news release.