COSAVI and SanCor face significant financial recovery and debt developments

In El Salvador, the Superintendencia del Sistema Financiero (SSF) announced a new phase in the capital recovery plan for victims of the COSAVI fraud. Starting September 3, 2026, depositors with accumulated funds of up to $140,000 will be able to withdraw their money or complete recovery procedures. This follows previous stages that covered thresholds up to $130,000. Withdrawals are centralized at the agency's central office in San Salvador. The SSF noted that the liquidity for these payouts is sourced from payments recovered from COSAVI's existing credit portfolio.

In Argentina, the dairy cooperative SanCor faces increasing financial complications as its bankruptcy process continues. A recent report from the receivership indicates approximately $35 billion in new obligations were generated between the preventive reorganization filing and the bankruptcy declaration. This amount adds to the company's existing liabilities. Meanwhile, the liquidation of SanCor's operational assets remains suspended due to a ruling by the Court of Appeals in Rafaela, Santa Fe. Significant labor debts remain under audit, with the total amount of unpaid worker credits yet to be finalized.