A bill being discussed in the Costa Rican Assembly aims to accelerate and simplify the processes followed by companies when they request to be declared in a state of insolvency or bankruptcy.
Currently in the country there are two liquidation processes, which are bankruptcy and insolvency, in addition to two others in which "...the debtor makes proposals to creditors to reach a solution, which are the administration and reorganization with judicial intervention, exclusively for companies, and the preventive agreement, for companies and individuals."
Because of the complaints filed in the tender to supply photovoltaic solar energy, the Public Ministry of Guatemala conducted legal proceedings in the headquarters of the Inde, which could affect the continuity of the process.
Some days after having initiated the administrative procedure against Aldesa Puesto de Bolsa, the judicial authorities of Costa Rica carried out several raids in the homes of the directors of the entity and its offices.
On May 24, through a relevant fact, the General Superintendence of Securities (Sugeval) explained that investigations would be made to determine whether or not the stock exchange carried out the necessary accounting records of accounts receivable payment operations for nine months.
In Costa Rica, a court decided to cancel the patent for the invention of the "canopy" that since 1998 was held in the name of a person, who charged the tourism companies that carried out the activity.
On April 24, the Administrative Registry Court decided to cancel the canopy patent that had been granted to the Canadian Darren Hreniuk, which he received in October 1998 from the Industrial Property Registry.
Arguing that the basic principles of public procurement were not complied with, in Panama the contract between the State and the company Petaquilla Minera has been declared unconstitutional.
The legal dispute began in 2009, when the Environmental Advocacy Center (CIAM) filed an unconstitutionality appeal against the contract that grants a twenty year concession to Cerro Petaquilla to exploit and sell gold, copper and other mineral resources.
Following a controversy caused by statements made by the Attorney General of the Nation, the Panamanian business sector is demanding that a thorough investigation be carried out, asserting that things are moving "dangerously towards the exhaustion of any principle of legality".
From a statement issued by the Chamber of Commerce, Industries and Agriculture of Panama (CCIAP):
The union of private companies is promoting a reform that allows strengthening of the administration of justice and ensures the independence of judges and prosecutors.
From a statement issued by the Chamber of Commerce, Industries and Agriculture (CCIAP):
After a failed attempt at restructuring, the process that began in September 2014 with the cessation of payments by the financial company La Generosa today ended with a judicial declaration of financial bankruptcy.
Prensa.com explains that"...The measure involves the seizure of all assets belonging to the company, the appointment of a executor and José Luis Ford being banned from leaving his home where the bankruptcy was finalised, which is effectively an impediment to him leaving the country. "
The ability of the executive and legislative powers to effectively lead their country's economy is seriously diminished by the excessive actions of the judicial branch, especially the Constitutional Courts.
EDITORIAL
It is happening in Central America but it is a growing problem throughout Latin America. The legitimate concern to guarantee that all citizens fully exercise their rights under the very welcomed liberal democracy, has created a culture of acceptance of virtually all proceedings filed in courts against executive actions taken by the government, and also against laws which have been formally approved.
The Superintendency of Corporations has ordered the opening of bankruptcy proceedings on the assets of Interbolsa SA, parent company of the Grupo Interbolsa.
A statement from the Superintendence of Companies of Colombia reads:
Bogota, Jan 4 (SS).
The Superintendency of Corporations in the exercise of its statutory powers 430-000043 January 2013 has decreed the opening of bankruptcy proceedings of the assets of Interbolsa SA, the parent company of Grupo Interbolsa.
After the multinational’s failure to pay a Salvadoran businessman who won a lawsuit against them, a court has ordered an embargo of the 36 McDonald's brands in the country.
In October 2011, after 14 years of litigation, the Salvadoran Supreme Court ruled in favor of the company Servipronto of El Salvador.
The Supreme Court decision ordered the multinational McDonald's to pay $23.9 million in damages.
After a 15 year legal process, the Constitutional Chamber of El Salvador has upheld a ruling in the suit by a local businessman against the McDonald's Corporation.
The commercial trial for breach of contract between the McDonald's company and the Salvadoran corporation Servipronto began in 1997.
The Civil Court ordered the multinational to pay $23 million to the company Servipronto of El Salvador.
Those responsible for implementing the new "accusatory" penal system have presented the budget necessary for it to begin in Coclé and Veraguas.
The article by Yureth Paredes in Laestrella.com.pa indicates that, "Institutional Coordination Commission sub-committees created to implement the accusatory penal system (SPA) presented the total budget required for this new structure of almost $52 million".
Key figures for each country: Budget, Expense per capita, Case resolution rate, Transparency, Number of judges and courtrooms and Perception of independence.
A society’s development is heavily based on its ability to peacefully, rapidly and impartially resolve conflicts through its judiciary system. This is why modern societies work hard to have strong and efficient systems, way beyond the rhetoric and formal division of powers.
Coffee grower José Antonio Salaverría filed a complaint against the company for $22 million.
Salaverría argues that the bank breached a contract that guaranteed funding for his coffee mill.
"Yesterday, a mercantile court communicated his lawyers that the lawsuit was accepted, prompting the bank to respond in less than three days", reported Laprensagrafica.com.
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