Iranian-American businessman Hushang Ansary passed away last Sunday at the age of 98. For many years, Ansary was the majority shareholder of the insurance company Ennia and the owner of the Mullet Bay resort in Sint Maarten.
Under Ansary’s management, serious financial mismanagement took place at Ennia over several years. The insurance company was affected by a lack of capital and made irresponsible investments, which became clear in recent years.
The Central Bank of Curaçao and Sint Maarten intervened in Ennia in 2018. Three years later, in 2021, the court concluded that Ansary’s actions caused financial damages amounting to a very large sum of money.
It is still unclear what Ansary’s death will mean for the legal proceedings that were still pending against him. At the time of his death, the legal procedures were still ongoing.