Bananera Noboa ‘Is not Bankrupt’

Fernando Alarcon, Bananera Noboa's legal representative

Fernando Alarcon, legal director of Bananera Noboa, owned by businessman Alvaro Noboa said yesterday that the company has not declared itself in bankruptcy and continues its regular activities, “the company is not, and will not declared itself in bankruptcy, but it will continue fighting for its rights,” he said.

These words contradict the statements of the director of the Internal Revenue Service (IRS), Carlos Marx Carrasco, who reported last Thursday that Bananera had declared itself in bankruptcy and the state agency said it was an allegedly debt fraud to avoid the payment of $146 million owed to the Treasury, as a result of interests since 2005.

 Alarcón, felt sorry for the reckless and far from the facts” statements given by Carrasco and said that the truth is that there are two lawyers who seek to collect court costs to the company and that they have asked a bankruptcy trial, so that a bankruptcy can be called. However, he explained that the payment itself will be done by Bananera, and therefore, the trial will be filed.

On the issue of a $ 146 million debt, Alarcon said that “Bananera Noboa will defend itself to prove that this debt is a “legal outrage by the IRS.”

 But he confirmed that “certain” assets from Bananera Noboa have been transferred to other companies, but not to Banacont, due to outstanding obligations. He denied that this has affected the heritage of the former company.

Carrasco said Thursday that a member of the General Meeting of Bananera had explained that such property had been transferred, presumably to reduce the assets and avoid the payment. (LO)