Colombian authorities order reorganization of Grupo Interbolsa
BOGOTA Nov 16 (Reuters) - Colombian regulators on Friday ordered the reorganization of Grupo Interbolsa after its stock brokerage, the largest in the Andean country, collapsed earlier this month.
The Superintendent of Societies, which monitors publicly-traded companies, said that if a reorganization is not successful, the company would be liquidated. It set a time limit of six months.
Grupo Interbolsa includes insurance and investment arms. The downfall of its stock brokerage was caused by the inability to make a payment due to a liquidity squeeze. (Reporting by Bogota Newsroom)