Banco ELCA Declared Bankrupt
The Superintendencia de Entidades Financieras, SUGEF, who intervened the
operations of Banco ELCA last June 29, has made it's decision that there
is no other choice but to liquidate the operations of Banco ELCA.
To keep it alive some us$28 million dollars are needed. Several buyers
had expressed interest to buy the bank, but they have all disappeared,
leaving the SUGEF no other alternative than to begin the long and costly
process of liquidating the bank.
That was the reason behind the decision by the Consejo Nacional de
Supervisión del Sistema Financiero (CONNASIF) to make a petition before
the courts and February 28, theJuzgado Primero Civil de San José,
declared the Banco ELCA bankrupt.
Banco ELCA president, Carlos Alvarado Moya, is currently in preventive
detention following charges presented by SUGEF last year to the
Ministerio Público.
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