A.2. Facts related to the Banco de Montevideo, the procedure under article 31 of Law No. 17,613, and the alleged victims in this case A.2.a) Specific situation of the Banco de Montevideo 65. The Banco de Montevideo was a private Uruguayan financial intermediation institution, part of the Velox Group or Peirano Group.45 Other members of the group were the Banco Velox S.A. in Argentina, the Banco Alemán del Paraguay and the Trade & Commerce Bank (hereinafter also “TCB”) in the Cayman Islands.46 Also, at the end of 2001, the Banco de Montevideo acquired 99.83% of the shares of the Banco La Caja Obrera.47 66. Up until December 2001, the Banco de Montevideo was in a solid economic and financial position and, in appearance, was profitable and growing.48 Meanwhile, the Trade & Commerce Bank was a bank with a license to conduct banking activities granted by the Cayman Islands, represented in Uruguay by TCB Mandatos S.A.49 67. The assets of the Banco de Montevideo had “considerable exposure in Argentina, so that the conversion to pesos and the restriction on the export of capital imposed in that country seriously affected its liquidity and solvency.50 In addition, as of January, 2002, the situation of the Banco de Montevideo was exacerbated by the increasing financial support that this financial institution was providing to the Trade & Commerce Bank, which was also suffering from a severe outflow of deposits as an indirect result of the “corralito” in Argentina.51 This exposure of the Banco de Montevideo in relation to the Trade & Commerce Bank did not entail a violation of the general legal or regulatory framework, but was “undesirable from a prudential point of view,” because it was excessive in relation to the net worth of the Banco de Montevideo. Consequently, the Central Bank of Uruguay requested an “intensive supervision” of the Banco de Montevideo in February 2002.52 From that time on, the Central Bank issued a series of 45 Cf. Affidavit of the witness Julio de Brun dated February 16, 2011 (merits file, volume III, folio 1097); writ of indictment “Peirano Basso, Jorge et al.” of October 18, 2006, presented by the Public Prosecution Service and the Prosecutor to the Seventh Criminal Judge of First Instance (file of attachments to the application, volume I, attachment 4, folio 2072); file No. 2002/0267 before the Central Bank of Uruguay entitled “Banco de Montevideo – Increase of the risk in companies connected with the Velox Group.” (file of attachments to the answer, volume I, attachment 7, folios 12445 and 12446), and brochure on the Velox Group (file of appendices to the application, volume I, Appendix 3(A), folios 210 to 234). 46 Cf. Table of companies connected with the Peirano Group, contained in the file entitled “Banco de Montevideo – Increase of the risk in companies connected with the Velox Group” (file of attachments to the answer, volume I, attachment 7, folio 12445) and writ of indictment “Peirano Basso, Jorge et al.“, supra note 45 (folio 2072). 47 Cf. Opinion of expert witness Marcelo Arámbulo Letouquet in the case filed in relation to the authorities of the Central Bank of Uruguay before the Eighth Criminal Court (merits file, volume III, folios 940 to 946); affidavit of the witness Julio de Brun dated February 16, 2011 (merits file, volume III, folio 1097), and Decision D/350/2002 of the Board of Directors of the Central Bank of Uruguay of June 21, 2002 (file of attachments to the application, volume I, attachment 8, folio 2158) 48 Cf. Affidavit of the witness Rosolina Trucillo dated February 16, 2011 (merits file, volume III, folio 1133) 49 Cf. Affidavit of the witness Rosolina Trucillo dated February 16, 2011 (merits file, volume III, folio 1129), and certificate of the Department of Inspection of Banks of and Trust Companies of and for the Cayman Islands of May 6, 1993 (file of attachments to the answer, volume XIII, attachment 31, folios 19683 19687). 50 Affidavit of the witness Julio de Brun dated February 16, 2011 (merits file, volume III, folio 1097). 51 Cf. Affidavit of the witness Julio de Brun dated February 16, 2011 (merits file, volume III, folio 1097); Affidavit of the witness Jorge Xavier dated February 16, 2011 (merits file, volume III, folio 1116), and Affidavit of the witness Rosolina Trucillo dated February 16, 2011 (merits file, volume III, folio 1133). 52 Cf. Decision P/16/2002 of the President of the Central Bank of Uruguay of February 25, 2002 (file of attachments to the application, volume I, attachment 3, folio 2070); Decision D/322/2002 of the Board of Directors of the Central Bank of Uruguay of June 9, 2002 (file of attachments to the application, volume I, 21