Costa Rica: $212,000 to Dissatisfied Customer of Popular Valores

An arbitration has required the brokerage firm Popular Valores to pay more than $212,000 to a dissatisfied customer, due to breach of obligations regarding information and advice.

Friday, May 3, 2013

The process was handled at the Center for Conciliation and Arbitration at the Chamber of Commerce in Costa Rica. According to this tribunal, Popular Valores "breached its obligations regarding information and advice" in their relationship with the client.

The problem occurred with trading conducted in 2008. The resolution requires the brokerage firm to pay to the plaintiff $157,360 for property damage and $54,768 for lost profits.

Elfinancierocr.com reports that "the brokerage firm must also assume the payment of any interest occurring until it makes the final payment of the obligation. It will also need to address both process costs and disbursement of $13,210 to the Arbitral Tribunal for the fees of the arbitrators and experts, administrative expenses and transcripts ".



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