Radio Sucre Was Seized

National Finance Corporation (CFN) seized the building where Cadenar system (Radio Sucre, Cupido, and Sistema Dos chain station) operates, due to a $ 2’600.000 dollars debt.

Employees from the radio stations were forced to leave the facilities and enable the automatic mode for the transmission of the programs.

“CFN maintains a coercive trial initiated in 2002 against Ecuaprimicias S.A. company and its respective guarantor. The trial is still in progress since the winning of the exceptions trial that was proposed by the debtor in 2005”, reports a CFN statement.

CFN explains that it “has the constitutional and legal obligation to collect all delinquent debtors, through enforcement of security rights originally granted and the property of the debtor to recover the values for unpaid debts. “

“These collecting actions should be implemented without exception, in compliance with the guidelines and regulations issued by supervisory bodies such as the Superintendency of Banks and the General Comptroller of the State which the CFN follows”, says the corporation.

The station managers are trying to reach an agreement with CFN in order to resume their activities.

Source: Teleamazonas