Media release: Occurrence of the security and compensation event at Sora Bank AG in liquidation

By order dated March 1, 2024, the Princely Court of Justice opened bankruptcy proceedings over the assets of Sora Bank AG in liquidation (Sora) and appointed Deloitte (Liechtenstein) AG as bank liquidator (see eAmtsblatt).

Sora's license to operate a bank expired on 7 March 2023 in accordance with Art. 27 para. 1 let. c Banking Act due to a written waiver. Sora has been in voluntary liquidation since March 7, 2023 (see announcement by the FMA).

The bankruptcy order issued by the Princely Court of Justice on March 1, 2024 legally triggers a guarantee and compensation case under the Deposit Guarantee and Investor Compensation Act (EAG) as of March 5, 2024 (Art. 7 para. 1 let. c EAG and Art. 36 para. 1 let. c EAG).

The covered deposits and covered investments of Sora's customers are protected under the EAG. Sora is a member of the statutory protection scheme "Einlagensicherungs- und Anlegerentschädigungs-Stiftung SV (EAS)". Upon the occurrence of a protection and compensation case, the EAS examines the claims of depositors and investors and satisfies them up to the statutory maximum amounts if the legal requirements are met.

EAS is already in contact with Sora and is preparing to process the proper payout.

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