Former clients mobilise after Assegurances Generals bankruptcy

About thirty former clients of Assegurances Generals have organised to pursue legal and political actions to limit the impact of the firm’s declared bankruptcy on their personal finances. They say they do not trust the solutions offered by the company’s owners or by the justice system and want to avoid losing “the savings of a lifetime.”

Most of those mobilising are French citizens who at some point have lived in, or still live in, the country. They voiced their discontent at the last general meeting of creditors and now want to take further steps, arguing the case has been poorly managed and is causing serious harm to people who relied on a company that once presented itself as solvent.

The group is preparing several actions and has already filed documents, including a request that the judge overseeing the insolvency proceedings keep them informed of developments. They complain that creditors were never formally notified of the judicial decisions taken in the case and that they have lacked information about the measures pursued by the Calvó family, owners of the insurance company.

Participants describe the affair as opaque and even perverse. Their primary concern is that assets linked to the company might be sold at abnormally low prices, which they say would further injure creditors.

They also dispute that recent urban-planning changes in the Canillo parish — where the Calvó family holds most of its property — should justify a devaluation of land, estates or plots that works against their interests. Their complaint notes that the insurer’s intervention occurred several years earlier and that the planning changes took place much later.