According to the lawyer of Pedro Delgado the policy is still in force

Pedro Delgado

The Civil Liability policy (D&O) five million dollars that the AGD-CFN Trust No More Impunity acquired in 2010 to defend Trust members in court cases was renewed in September 2012. According to this provision, this policy could benefit former Trust executives such as Pedro Delgado and Francisco Endara, although they no longer occupy those charges. Juan Carlos Carmigniani, Delgado’s attorney, said this yesterday.

Through the Virtual Board 107of Trust set on September 28, 2012, Delgado, as delegate of the Ecuadorian president, Rafael Correa, Camilo Saman, Katya Andrade Vallejo, and Patricio Enrique Moncayo Pareja, as members of the Management Unit Law Public and Andrea Cristina Lara Lara, as a delegate of the Ministry of Finance, discussed the issue and agreed it’s renewal.

Last Thursday, Carmigniani showed the calling for the virtual meeting in which was called to the Trustee “to sign the renewal of civil liability policy of Rocafuerte Insurance Company SA (company also controlled by the State), according to the letter No. RS-GSOM-12-297 of September 14, 2012, sent by the chief executive of the company.”

Carmigniani assured that this has already been approved and therefore is in effect. According to Carmigniani if a judicial process is carried out against beneficiaries officials on cases related to their charges, those judicial fees could be paid by such policy.

Before this announcement, Attorney General of the nation Galo Chiriboga, confirmed yesterday that there is such a policy. “It is absolutely untenable that the Ecuadorian State, while paying for the prosecution to prosecute criminal offenses, also pays the defense through an insurance policy,” he stressed.