QCOSTARICA — An unconstitutionality action accepted by the Constitutional Court, Sala IV as is often referred to, froze for an indefinite period the process of selling the loan portfolio, both good and bad, of the extinct Coopeservidores.
The measure also freezes any transaction for vehicles, properties and real estate, so the cooperative’s savers were, for the moment, tied up in trying to recover some of their money.
Last week, for example, the cooperative’s investors and creditors were unable to proceed with the auction of cars and properties worth more than ¢4.34 billion colones.
The claim before the Fourth Chamber was accepted by the magistrates at the end of January and was presented by a Desyfin investor against the law that regulates the resolution processes of financial entities, so it also covers the entire process around Coopeservidores.
Monday night, the National Council for the Supervision of the Financial System (Conassif) reported that the impact of the course given to the action of unconstitutionality is being analyzed.
“It may affect the creditors of said entities, given the practical effects that may be generated from the regime provided for in the Law of Constitutional Jurisdiction (…) regarding the application of norms that are constitutionally questioned,” the statement explained.