Number of cooperatives in Panama grows by 20%Monday, September 1, 2008 Eighty-nine new cooperatives, mainly for savings and credits, have been setup in the country so far this year. This is a 20% growth with regards to 2007, said the Technical Assistance Director of the Panama Institute of Autonomous Cooperatives (Ipacoop), Vielka Avis. Panamanian Cooperatives Increase Profits by 50%Wednesday, May 27, 2009 At the close of fiscal year 2008, net income was $18 million, according to the Panamanian Autonomous Cooperative Institute (IPACOOP). There are currently 458 cooperatives, of which 86% closed with profits, said Ramón Rodríguez, IPACOOP deputy executive. Order to Liquidate Cooperative in PanamaFriday, March 22, 2013 The Panamanian Autonomous Cooperative Institute yesterday ordered the liquidation of the Savings and Credit Cooperative for Employees of the Social Security Fund, due to irregularities in its operations. Cooperativa de Ahorro y Crédito Empleados de la Caja de Seguro Social (Coacecss), was seized in June last year, triggered by an "administrative and financial deterioration" in its handling, specifically for opening foreign accounts for excessive amounts on the entity's balance sheet. Cooperatives On the Rise in PanamaTuesday, November 23, 2010 The cooperative legal structure is becoming increasingly important in the country, especially in the multi-service and credit unions format. According to statistics from the Panamanian Autonomous Cooperative Institute (IPACOOP), the country has 521 cooperatives, which manage a total of $ 1.4 billion. 80% provide multiple services or credit and savings products. Panama To Host Cooperative Summit in 2012Monday, October 10, 2011 The Autonomous Cooperative Institute has announced that in 2012 to mark the International Year of Cooperatives, the country will host the Second Summit of the Americas Cooperative. Panamanian Government Will Liquidate CoosemuparWednesday, February 10, 2010 Ipacoop, Panama’s cooperatives authority, decided to liquidate Coosemupar. Coosemupar, a Banana growing cooperative intervened in 2004 for administrative irregularities, was looking for a company to acquire or invest in it. Panama: Companies Interested in CoosemuparMonday, November 2, 2009 5 Companies have expressed their interest in investing in Coosemupar, to rescue it from its current crisis. The announcement was made by Ana Roasas, director of Ipacoop (cooperatives authority), adding that several proposals are being studied. Bids Invited for CoosemuparWednesday, December 2, 2009 The company chosen to invest and develop Coosemupar's banana growing assets will be announced on December 22nd. Interested companies can request the bidding rules between December 2nd and 4th, at the offices of Coosemupar (Cooperativa de Servicios Múltiples de Puerto Armuelles R.L.). Panama: Officials Reject CEDIT's Bid for CoosemuparTuesday, December 22, 2009 The evaluation commitee rejected the bid by Italian company CEDIT (Centro de Distribución de Toscana), as it failed to comply with the established requisites. The announcement was made by José Carlos Elizondo, Coosemupar interventor. Panama: Banana Agreement with Fresh Del MonteFriday, April 24, 2009 IPACOOP selected the offer of $54 million by Del Monte for the rental of 3 thousand hectares from the COOSEMUPAR banana company for 25 years. With the decision of the Panamanian Autonomous Cooperative Institute (IPACOOP), negotiations for an agreement between cooperative COOSEMUPAR and Del Monte for the rental of the banana plantations will begin. Panama - Fresh Del Monte Talks FailMonday, May 11, 2009 Del Monte withdrew from negotiations for the operation of COOSEMUPAR, and a substitution through government investment is being considered. Del Monte multinational withdrew from negotiations for the operation of Port Armuelles Multiple Services Cooperative (COOSEMUPAR) due to protests by cooperative workers, who blocked the border crossing between Panama and Costa Rica. Italian Company CEDIT Close to Running CoosemuparFriday, December 18, 2009 "Centro de Distribución Toscana" (Cedit), was the only company bidding to assume operations at troubled Panamanian cooperative Coosemupar. Cedit boasts 80 years of experience in the banana market. Its proposal will be reviewed on December 22. Chiquita Brands Wants to Return to PanamaFriday, June 14, 2013 Both Chiquita and Del Monte are participating in the auction of 3,100 acres that were part of the former grounds of the now defunt Coosemupar Both companies are in talks with the Government and former employees of Cooperativa de Servicios Múltiples de Puerto Armuelles. A report by Ana Giselle Rosas de Vallarino, executive director of the Panamanian Autonomous Cooperative (IPACOOP) has revealed that with the money from the auction, the government will have to pay $17 million as payment of the worker-employer fee and other debts to suppliers . Auction of 3,500 acres of Former CoosemuparMonday, June 3, 2013 In the evaluation of the bids the potential generation of jobs by the project using the land will be taken into account. The funds acquired through the sale of the 3,500 hectares will be used to pay more than $17 million of the debt belonging to the cooperative with the Social Security Department. Panama: 6 Proposals to Reactivate CoosemuparThursday, November 19, 2009 The name of the company that will invest in reactivating Coosemupar's banana plantations will be known before December. The submitted proposals will be analyzed by Victor Pérez, Agriculture Development Minister, together with members of the Panamanian Autonomous Cooperative Institute. |
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