BMCI Ordered to Pay Nearly MAD 48.5 Million in Abroun Gold TV Sat Case

Rabat – The Commercial Court of Casablanca has ordered the Moroccan Bank for Trade and Industry (BMCI) to pay nearly MAD 48.5 million ($5.26 million) to Abroun Gold TV Sat, a company currently under judicial liquidation, in a ruling that closes a long-running legal dispute over banking liability, according to Medias24.

Issued this past December 18, the ruling holds BMCI civilly responsible for faults in the management of commercial instruments linked to the company.

The case was brought by Abroun Gold TV Sat through its court-appointed liquidator, following years of litigation that began in early 2024 and involved multiple procedural delays, expert assessments, and written submissions from both parties.

According to the court’s decision, the amount awarded includes approximately MAD 36.9 million ($4 million) corresponding to unpaid and non-returned bills of exchange, in addition to more than MAD 11.6 million ($1.26 million) in damages for economic harm. The court also ordered BMCI to cover legal costs.

Judges found that the bank failed to properly process and restitute certain commercial documents, a lapse that contributed to worsening the company’s financial position.

A ruling centered on banking responsibility

The court examined the bank’s conduct before the company’s liquidation, focusing on how it handled the effects of commerce and related guarantees.

In its reasoning, the court concluded that shortcomings in this management directly aggravated Abroun Gold TV Sat’s situation, establishing a causal link between the bank’s actions and the financial damage claimed.

The case involved the presence of Abdelmalek Abroun, former head of the group, acting in his capacity as company manager and joint guarantor.

Court-appointed banking experts were tasked with reviewing account movements and document handling, forming a central part of the evidentiary record.

Legal observers note that the decision reinforces established principles governing bank–client relations, particularly the requirement that financial institutions maintain procedural rigor regardless of a client’s solvency status.

While the ruling does not alter the liquidation process itself, it formally recognizes a banking fault and assigns financial compensation accordingly.

A broader context for the BMCI case

The judgment comes amid significant developments surrounding BMCI’s ownership structure.

Just days before the ruling became public, the French banking group BNP Paribas confirmed it had entered exclusive negotiations with the Moroccan group Holmarcom regarding the sale of its 67% stake in BMCI.

In a statement, BNP Paribas said discussions were still at an early stage and that the market would be informed should talks progress toward a final agreement.

The group indicated that a completed transaction by 2026 would have a positive impact on its core capital ratio.

BMCI’s condemnation also revives attention around the trajectory of the Abroun group, once a major player in Morocco’s household appliances and electronics retail sector.

Rapid expansion over previous decades was followed by mounting debt, creditor disputes, and judicial actions that culminated in asset sales and multiple liquidations.

While the ruling does not reverse the group’s decline, it marks a significant legal outcome within the framework of banking accountability.