Econoinvest's clients are publicly acknowledged the dollar amount owed to them the brokerage firm at the time of the intervention, but the bad news is that your payment will be in Bs, and the rate of change Bs.F. 4.30.
On a list of 3,450 individuals, the meeting liquidating published with full name and identity card of the amount he acknowledged, and that did not recognize him, too, to each of these investors. After a year of investment held, 2,057 investors appeared on the list finally have a date to get their money, but in Bolivars. Also included in the schedule of payments 28 savings banks, including the Seniat and the Ministry of Foreign Affairs. The other four they rejected his debts, including the Supreme Court of Justice.
In the press notice on the National Superintendency of Securities (Sunaval) and liquidators Orangel Nahunimar Godoy Castillo and indicate that payment will be made with local currency according to current standards Settlement authorized securities dealers.
"In case of approved foreign currency obligations ... the same shall be paid as provided in the applicable Exchange Agreements", says Article 21 of this regulation.
However, legal advisers to several of the affected customers explaining that the exchange agreements do not specify that payment of these debts will have to do in Bolivars.
"Exchange Agreements in force, specifically in the numbers 4 and 14, and calls to the auctions of these securities, provided that the initial placement is in bolivars and payment by the issuer is in dollars, lawyers say .
And, in fact, every investor should be free to negotiate these values \u200b\u200bin the international currency market. And if you wish to trade in Bolivars be carried out according to the rules established by the Central Bank of Venezuela to the IMTS, a platform where the customer could get a higher exchange rate per dollar of investment.
are 2,632 individuals to whom they approved his request for credits. As than 402 companies. Other 812 people did not run with the same fate, even for a payment in Bolivars. The Board of Liquidators, and then the same Superintendencia de Valores, they rejected his requests for credits. As well as 133 other corporations.
"I took all the precautions that I requested. And above, several board members had told me that I approve of my debt. They are $ 18,000," says one investor who was rejected.
This person, who said on condition of anonymity, at least it was one to which he released the bonds in his name were held in the Fund Venezolana de Valores (CVV).
Others, nearly 1,500 investors, even continue in that story, with his papers held at the Caja de Valores, still waiting for the approval of the Board of Liquidators to access their values.
is the case of Elsa Pasarelli, one of the customers Econoinvest which is still not authorized by the board of liquidating the bonds in your name at the Caja de Valores, until you can get that permission can not charge interest, or capital at maturity. Can not sell the paper.
The escrow account
Most of these credits is for repurchase transactions. And in the Caja de Valores was a restricted account with dollar bonds that guaranteed each of these transactions.
Repos amounted Econoinvest made $ 22.9 million. And in that account for securities were $ 40.3 million.
The liquidators had access to these papers, due to the management to audit all assets of the broker-dealer as principal to cancel all commitments of the company, especially customer debts.
At least that was the premise in the Caja de Valores in giving the permission.
Superintendent of Securities, Thomas Sanchez, assured customers that such repurchase transactions were not conducted with the guarantee.
However, according to financial sources, each investor could observed in their electronic sub page of the Caja de Valores each corresponding to securities repurchase operation.
World, 06/05/2011, 12-13, Carjuan Cruz
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