Satabank owes over €76 million to more than 5,000 creditors, information in the government gazette revealed.

A notice of liquidation was published in the Gazette. "The Controller of Satabank p.l.c. advises all creditors who may have a claim upon the Controlled Asset (Satabank p.l.c.) to take note of the list published, showing the names of creditors and amounts recognized by the Controller as due to each of them."

The very long list of over 5,000 creditors was published, with the total amount coming to over €76 million.

Satabank rose to prominence - for the wrong reasons - after it was subject to a joint inspection and audit by the Malta Financial Services Authority and the FIAU in 2018.

Shortcomings were found in the bank's anti-money laundering procedures, which ultimately resulted in the total freezing of all 12,000 of the bank's accounts as EY was drafted to administer the bank's assets. Police and financial regulators subsequently opened a much more in-depth investigation into the bank and the dealings of its customers, with billions of euros in transactions coming under the spotlight.

More than 300 reports of suspicious transactions at Satabank - worth over €130 million - were ultimately flagged by experts. The bank was eventually slapped with a massive €3.7 million fine by the FIAU over its money laundering regulation breaches. This fine was reduced to €851,000 by an Appeals Court in December 2020. It was also fined €327,500 on 5 October 2018 for failing to reply to requests made by the FIAU within the stipulated timeframes and for also providing the same authority with incorrect information. This fine was later slashed to €68,000 on appeal.