Saturday 18 September 2021

Sugeval opens investigation against Aldesa Stock Exchange

The company did not keep the necessary accounting records, which generated "difficulty to know the financial situation," according to the Superintendence; Aldesa argues that information was always up to date and sent to the supervising entity.

Paying the bills

Latest

What are we celebrating?

QCOSTARICA - From the gallows humor department is the...

Sala IV rejects covid patient’s claim for Caja to pay the cost of a private hospital

QCOSTARICA - A claim made by a family against...

Finally, migrant population in Costa Rica will be vaccinated against covid-19

QCOSTARICA - After complaints raised by migrants because they...

Costa Rica is the Main Exporter of Palm Oil in 2020

QCOSTARICA - In 2020, Costa Rica was the largest...

Uruguay considers allowing tourists to buy marijuana

Q24N - The first country in the world to...

Today’s Vehicle Restriction September 18: “ODD” ending plates CANNOT circulate

QCOSTARICA - Starting today, September 18, we go back...

500 Intel drones illuminated the night of celebration of the Bicentennial of Costa Rica

QCOSTARICA - During the celebration of the Bicentennial of...
Paying the bills

Share

The Superintendencia General de Valores (Sugeval) – General Securities Superintendency – initiated an administrative sanction procedure against Aldesa Puesto de Bolsa.

“The plan of the three years is to advance the real estate projects to be converted to cash, and with that to pay out the investors, according to Javier Chaves, president of Aldesa Corporación de Inversiones.

The supervising entity opened the investigation on May 20, but the measure wasn’t publicly communicated until May 24, by María Luisa Fernández Garita, head of the Sugeval.

- Advertisement -

The main investigation of the Superintendency will be to determine why Aldesa Puesto de Bolsa did not keep the necessary accounting records of the operations of payment of accounts receivable for a period of nine months.

This generated “difficulty to know the financial situation”, according to Sugeval.

In case of demonstrating there was a lack of accounting records, Aldesa Puesto de Bolsa SA, would be in breach and under the Ley Reguladora del Mercado de Valores (Securities Market Regulatory Law) could face a fine of 5% of its assets.

Aldesa announced, on March 8, the closing of its stock exchange position, after requesting a judicial intervention due to liquidity problems in the Aldesa Corporación de Inversiones (ACI) business, the private unit of the group.

Investors in the ACI stand to lose millions of dollars invested, earning returns of 10% of more annually.

- Advertisement -
Paying the bills
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

Aldesa bankruptcy demanded: It would have altered accounting data

QCOSTARICA -The Bankruptcy Court of the First Judicial Circuit of San...

Costa Rica passes law to attract foreign pensioners and rentiers with $150K capital

QCOSTARICA - Costa Rica's legislature approved, in the first debate, a...

Subscribe to our stories

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

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.