Ecuador lost trial against Isaias brothers in Miami

Isaias brothers

Ecuador had a setback in the court of Miami, Florida (in United States), where it filed a lawsuit in April 2009, against the brothers Roberto and William Isaias Dassum, former owners of the closed Filanbanco, and by which Ecuador was trying to seize other assets of their firms in that country.

John W. Thorton, judge of the eleventh judicial circuit for  the Miami Dade County (Florida), in a decision that can be appealed by Ecuador, considered unenforceable the lawsuit filed by this country, which was based on article 29 of the  Ecuadorian law on Financial Institutions.

The judge indicated that the defendants “may have committed the acts alleged by Ecuador”. The problem is that “the way in which Ecuador has tried to correct the supposed errors of the defendants is inconsistent with the regulations and laws of the United States of America.”

The Isaias Dassum family confirmed the news, but did not issue any comments in Ecuador.