The Firm That Nearly Bought Banco Master Wants Its Watchdog Gone

Banking

Key Facts

—The ruling. On 3 July a São Paulo appeals judge refused to suspend the independent monitor placed over Grupo Fictor, the holding company that announced it would buy Banco Master a day before the bank was liquidated.

—The two roles. Laspro Consultores serves as court-appointed administrator. Kroll, the corporate-investigations firm, serves as the monitor, or watchdog.

—The fees. By Fictor’s own filing, the administrator now receives R$645,000 ($126,000) a month, up from R$100,000 at the start. The monitor receives R$224,340 ($44,000) monthly.