Friday, May 20, 2011

Cementing Basketball Court

Luis Valdivieso: Uncertainty in




The National Securities Board instructed the liquidator of the brokerage Econoinvest to inform customers that they exchange bonds issued by the Central Bank of Venezuela, that such loans will be paid in dollars. Thus the confusion is remedied there a few months ago when officials Sunaval and liquidators said all foreign currency obligations to investors in that company stock be paid in local currency at the rate of 4.30 per dollar.

A date has yet estimated Econoinvest to cancel about $ 3 million in this type of instruments, which were issued by the BCV for as long as the swap market operated in the sale of foreign currency.

payment to creditors. In this second week of payment obligations having Econoinvest bolivar remains average attendance level of between 35% and 40% since it listed 200 people per day are only going 70 or 80 customers per day.

So far the board has not received liquidating a lawsuit by customers who have debts in foreign currencies, which are void in local currency and at the discretion of the affected generating losses below 50%.

Econoinvest The criminal lawyer, Luis Valdivieso, said the National Executive led to believe that the problem of high cost inflation and currency was the result of the intermediation of brokerage firms. Circuit

Hits , 19/05/2011, in interview with Nelson Bocaranda

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