Friday 2 December 2022

Aldesa claims to have lost more than ¢3.8 billion as a result of raid

Investors fear the company my enter bankruptcy, which is different from judicial intervention, a process akin to chapter 11 in the United States

Paying the bills

Latest

Costa Rica modified regulations for refugee applications

QCOSTARICA - By way of two decrees, the Costa...

Are CBD Gummies Better to Take Than CBD Oil?

These days, two types of CBD products have become...

Sala IV ruling: Employers can ban ‘extravagant’ hair dyes

QCOSTARICA (La Nacion) A woman filed an appeal with...

RTV extensions will run from when Dekra opens all the stations

QCOSTARICA -The Ministerio de Obras Publicas y Transportes (MOPT)...

It’s December, the ‘Aguinaldo’ month!

QCOSTARICA - A thirteenth salary, or end-of-year bonus, in...

Government announced a reduction in the 2023 Marchamo after an update in the methodology

RICO's DIGEST (OPINION)  The government of Rodrigo Chaves announced...

Thomas Müller disses Costa Rica: “8-0 is possible”

UPDATED: Game time in Costa Rica is 1 pm...

Dollar Exchange

¢600.02 Buy

¢607.17 Sell

2 December 2022 - At The Banks - BCCR

Paying the bills

Share

Legal representatives of the Aldesa Group say the company has lost about ¢3.8 billion colones (US$6.6 million dollars) in the last four months, as a result of the investigation against it, of alleged embezzlement of funds.

During a hearing in the Second Civil Court of Appeals of San José, the lawyer Alfonso Jiménez argued that the intention of the financial consortium is to reactivate operations in order to take charge of the economic responsibilities it has with thousands of clients.

“That the measures be adopted because a remedial plan has been presented where, through transparency, the creditors can observe how the company goes forward, preserve it, and thereby pay the people, more than a right is the responsibility we have (…) in the last four months we have had a loss  of approximately US$6.6 million dollars and it is necessary to reverse the situation,” Jiménez told the judges.

- Advertisement -

Last March, Aldesa turned to the Bankruptcy Court of San José (Juzgado Concursal de San José) for “judicial intervention”, an action similar to the well-known Chapter 11 in the United States that involves a reorganization of a debtor’s business affairs, debts, and assets.

The company sought the intervention as it faced serious economic problems in order to overcome the period of crisis and solve the interests of its creditors.

The first request the appeal was rejected.

On Friday, an appeal hearing was held before the Civil Court (Tribunal Civil), where the allegations of the representatives of Aldesa were heard.

The intention of the consortium is to be saved through a process of control and agreement not only with investors but also with judicial authorities.

The loss to more than 500 investors, who invested in the Aldesa consortium, is estimated at US$200 million.

Fear of investors

- Advertisement -

Investors who, some have been waiting patiently, while others have filed criminal complaints, fear of a bankruptcy process, which is very different from judicial intervention.

The judges will now have several of days to analyze the statements of the Aldesa lawyers, before issuing a resolution.

- Advertisement -
Paying the bills
Avatar photo
Ricohttp://www.theqmedia.com
"Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! In these times of new normal, stay at home. Stay safe. Stay healthy.

Related Articles

Costa Rica modified regulations for refugee applications

QCOSTARICA - By way of two decrees, the Costa Rican government...

Are CBD Gummies Better to Take Than CBD Oil?

These days, two types of CBD products have become more popular...

Subscribe to our stories

To be updated with all the latest news, offers and special announcements.