CIBanco Liquidation Faces 1.85 Billion Pesos in Legal Disputes

Mexico City — The liquidation of CIBanco has paid out 4.051 billion pesos ($202 million) to depositors, covering 89% of its client base, but the process is entangled in legal disputes totaling at least 1.851 billion pesos and $7.2 million, according to the Bank Savings Protection Institute (IPAB).

CIBanco requested its own liquidation in October 2025 after the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) in June 2025 linked the bank to suspected organized crime financial activities.

IPAB’s first-quarter 2026 financial report shows the bank faces lawsuits from creditors including companies and individuals seeking to recover funds or block liquidation measures. Cases include precautionary attachments, labor lawsuits, injunctions, and claims.

Among the largest disputes is one brought by Óscar Manuel Herrejón Caballero for 800 million pesos, pending before the Supreme Court. Continental Automotive Mexicana claims 613.9 million pesos. Hersuma Asesores has a 47-million-peso dispute. Tecnologías Relacionadas con Energía y Servicios Especializados (TRESE) involves 148.6 million pesos and $7.2 million.

IPAB also reported labor-related attachments totaling 242.2 million pesos and additional proceedings seeking suspensions on 124 million pesos in accounts claimed against CIBanco.

Since November, CIBanco has been trying to modify the scope of FinCEN’s order to facilitate the sale of subsidiaries. On November 6, 2025, Mexican authorities held a videoconference with FinCEN to discuss conditions for releasing about $5 million held in foreign accounts. On November 13, CIBanco’s international legal adviser White & Case sent a letter to FinCEN’s director requesting rescission of the special measure.

On April 13, FinCEN relaxed restrictions on CIBanco’s U.S. operations, which could free up those funds and speed up liquidation.

IPAB has filed 11 injunction lawsuits as a plaintiff related to precautionary attachments and labor measures against CIBanco accounts.

Another case involves fiduciary businesses managed by Banco Santander México’s fiduciary division (FORTE) for 4.690 billion pesos, linked to labor lawsuits also involving Corafi Asesores Ejecutivos and CIBanco as trustee.

In its 2025 annual report, IPAB said CIBanco’s operational structure has shrunk from 215 branches at the start of liquidation on October 10, 2025, to 160 by year-end. Staff fell from 2,460 to 1,704 employees.