600 companies are to be dissolved, according to Superintendency

The Superintendency of Companies and Securities (SC for its Spanish acronym) will dissolve in October 600 companies in Ecuador for not filing their balance sheets over the last two years, reported on 4 September the head of the inspection body, Suad Manssur, in an interview with...

Employees of Daily Hoy will receive settlement payments calculated on August month-end-closing

Yesterday was scheduled to be culminated  the inventory of assets and chattels of Edimpres (Daily Hoy), which will be sold to meet obligations of the company with 172 workers, social security and company suppliers. The liquidator appointed by the Superintendency of Companies,...

Hoy’s workers will be unemployed from September

The 154 workers of daily Hoy will come to the facilities of the newspaper in Quito until August 31, after that day they will be unemployed. This is one of the side effects of the closure of the company and the intervention of the Superintendency of Companies. Daily Hoy had 32...

Superintendency of Companies and Insurances will dissolve 600 companies per month

The Superintendency of Companies and Insurances announced last week that 730 firms are in the process of dissolution. These companies belong to the sectors of: agriculture, mining and quarrying, manufacturing, construction, wholesale and retail, accommodation and food service,...

Superintendency of Companies intervenes Hoy for higher losses than 50%

The daily Hoy, directed by Jaime Mantilla, was one of the 730 companies that went into liquidation due to reporting losses exceeding to 50% of its social capital for two consecutive years. In 2013, Hoy losses were $ 4’215.753,35 , compared to $ 4’600.000 of the...

Casa Tosi closes permanently

Casa Tosi closes its doors; the administrative management announced it this morning to their employees, with who they met in the Auditorium of the Central Bank in Guayaquil.   The matrix, located in Pedro Carbo and Aguirre, was closed, while the workers of the establishment could...

Real Estate Sector has new operating rules

For the purpose to regulate the operation of the estate agents, the Superintendency of Companies has enforced new rules and guidelines for these companies to operate correctly in the market. The regulation, in  force since December 18, stands out the prohibition for real estate...