Stanford Group Aruba N.V. declared bancrupt

On December 11th, 2009 the Court of First Instance of Aruba declared Stanford Group Aruba N.V. ("SGA"). SGA's office was the point-of-contact for many investors in Aruba, Curacao and Venezuela. SGA's managing-director was Frans Vingerhoedt. Vingerhoedt has not returned to Aruba since Stanford International Bank Ltd was placed under receivership. A group of investors in Aruba has filed a civil suit against the Central Bank of Aruba for lack of supervision of SGA.