The government of Panama has announced that it will liquidate the assets of the concessionaire of the mine El Molejón in order to pay outstanding debts after the company failed to appear before the Ministry of Labour.
The Ministry of Labor has retained office goods and the quarry belonging to Petaquilla Gold mining as part of measures to ensure the payment of wages of workers in the mine.
Despite rumors of the stoppage of the extraction process due to lack of capital to continue operations, the mining company is not bankrupt, but owes its employees about $3.5 million. It is expected that by 29th to 31st of October, the company will pay the fees.
Businessmen claim that the legal certainty provided by the legislation has resulted in more tourism and real estate projects in coastal areas, but there are still a lack of incentives for investment in projects in the Caribbean.
The Attorney General has calls on owners of Hotel Punta Teonoste to bring a trespassing issue to court and expressed willingness to open a dialogue.
The Attorney General of the Republic of Nicaragua, Hernan Estrada, has moderated his position on the occupation of private lands used for investment in tourism, Hotel Punta Teonoste, inviting the family who owns the hotel to take the matter to the courts of appeals.
Business associations are demanding to know the legal basis for an intervention at Hotel Punta Teonoste, where 20 acres of land were confiscated, to be handed to the former rebel leader Eden Pastora.
President of the Superior Council of Private Enterphrise, COSEP, Jose Adan Aguerri, said the episode provokes uncertainty, which affects "all Nicaraguans in the country, it is the government, it is our image, it is employment, it is investment attraction, and that's something we're going to protect."
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