WILLEMSTAD — The Central Bank of Curaçao and Sint Maarten (CBCS) will continue its efforts to recover losses suffered by insurer Ennia, despite the death of former owner Hushang Ansary. The Common Court of Justice has temporarily suspended the ongoing liability proceedings against Ansary following notification of his death, but the case itself remains very much alive.
Ansary, a former Iranian-born businessman and ex-owner of Ennia, passed away recently. His legal counsel formally informed the court of his death, prompting the suspension of the proceedings until clarity is obtained on who will assume his legal position as successor or representative. Once that issue is resolved, the court case is expected to resume.
The CBCS emphasized that the death of Ansary does not bring an end to the broader legal process surrounding the Ennia affair. The liability proceedings extend beyond Ansary personally and include other defendants, among them legal entities connected to him. These parties remain fully subject to the ongoing claims.
In a statement, the central bank reiterated its commitment to holding those responsible accountable for the financial damage inflicted on Ennia, one of the largest insurance companies in the Dutch Caribbean. “The CBCS remains committed to recovering the losses suffered by Ennia from former directors and shareholders and will continue to take the necessary steps to protect these interests, including, where necessary, actions against legal successors,” the bank said.
The Ennia case has been one of the most significant financial scandals in the history of Curaçao and Sint Maarten. In 2018, the CBCS placed Ennia under emergency administration after concluding that hundreds of millions of euros had been improperly withdrawn from the company. Subsequent investigations found that policyholders’ funds had been diverted to finance Ansary’s international business ventures, severely undermining Ennia’s solvency and threatening the pensions and insurance policies of tens of thousands of clients.
Earlier court rulings in Curaçao ordered Ansary to repay more than 500 million euros to Ennia, a decision that marked a major legal victory for the CBCS and affected policyholders. However, the recovery of those funds has remained complex and protracted, involving cross-border legal actions and multiple jurisdictions.
While expressing sympathy to Ansary’s relatives, the CBCS made clear that its primary responsibility remains the protection of Ennia’s policyholders and the stability of the financial system. The bank has repeatedly stressed that accountability in the Ennia case is essential not only for financial restitution, but also for restoring confidence in supervision and corporate governance within the insurance sector.
As the court awaits formal designation of Ansary’s legal successor, the Ennia proceedings remain a critical test of Curaçao’s ability to pursue justice in large-scale financial misconduct cases, even when key figures are no longer alive.