Nubank logo at the bank's headquarters in São Paulo, Brazil, June 19, 2018 Paulo Whitaker/Reuters Some Nubank customers received, this Friday (12), emails informing them of an alleged extrajudicial liquidation of the institution by the Central Bank (BC). An extrajudicial liquidation is a measure applied to financial institutions in a situation of insolvency or with serious financial problems. The objective is to close the company's activities in an organized manner, preserve available assets and guarantee payment of creditors. When liquidation is decreed, the institution ceases to operate and is removed from the National Financial System. From that moment on, its activities are interrupted and all debts and obligations are considered overdue. The institution's assets and resources are then used to pay off, as far as possible, debts owed to creditors, following the order of priority provided for in the legislation. In these cases, customers who have up to R$250,000 in investments are protected by the Credit Guarantee Fund (FGC), an entity that works as a type of insurance for account holders, savers and investors. The fund guarantees the reimbursement of financial investments up to the limits established by the institution's rules. What happened to Nubank The messages were sent in error, the bank was not liquidated and continues to operate normally. g1 had access to one of the emails sent from an official company domain. In the message, Nubank informed that the BC had ordered the liquidation of the institution and that "this issuer's assets will definitively leave circulation". The text advised customers to request reimbursement of amounts of up to R$250,000 from the Credit Guarantee Fund (FGC). 🗒️ Do you have any reporting suggestions? Send it to g1 When contacted, Nubank stated that it "regrets the inappropriate sending of a message to customers" and reported that the episode resulted from a specific operational error, which is being investigated internally. "The case has no relation to the security of the platform, the protection of customer information or the solidity of the company. Nubank's operations continue normally, with security and stability", says the note sent by the bank. g1 also contacted the Central Bank, which stated that the information that the institution had ordered the extrajudicial liquidation of Nubank was unfounded. The FGC did not respond. On social media, bank customers reported being surprised by the message they received. See some of the publications below. Now on g1 Initial plugin text Initial plugin text Initial plugin text *This report is being updated