The Joseph Safra Family Amicably Resolves Disputes

SÃO PAUL and GENEVA, July 19, 2024 /PRNewswire/ -- The Joseph Safra Family today announced the global, amicable resolution of all disputes with Alberto Joseph Safra.

Under the terms of the resolution, Alberto will divest his interests in the J. Safra Group. and pursue his business interests through ASA. They reaffirm that their father, the late Mr. Joseph Safra, was competent to dispose of his estate. Alberto Safra stated: "I am happy to put that matter behind. After clarifications, I understood that there were no wrongdoings, and that Mr. Safra's estate was properly disposed in accordance to his wishes."

The parties have further agreed to end all pending legal and arbitral proceedings in all jurisdictions.

Financial and other terms and conditions of the resolution were not disclosed.

In a joint statement, Vicky Safra and all her children said: "We are pleased to put this matter behind us and reaffirm our family bonds. The resolution we have reached will allow us to pursue our respective business interests in ways that help ensure that the success of every member of our family is a reason for shared satisfaction."

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SOURCE The Safra Group