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RESOLUTION No. AGD-UIO-GG-2008-12
of July 8, 2008
CARLOS BRAVO MACÍAS
GENERAL MANAGER OF THE
AGENCIA DE GARANTÍA DE DEPÓSITOS (AGD)
WHEREAS:
The Agencia de Garantía de Depósitos (AGD) was created under Law No. 98-17,
promulgated in the Official Register No. 78 of December 1, 1998, amended by Law No.
2002-60, as promulgated in the Supplement to the Official Register No. 503, of January
28, 2002;
The Agencia de Garantía de Depósitos (AGD) was aware of the determination of the
losses of Filanbanco S.A., restricted to December 2, 1998, which were approved by the
Banking Board under Resolution No. JB-2008-1084, of February 26, 2008;
The determination of Filanbanco’s losses, restricted to December 2, 1998, amounts to
661.5 million dollars, as set forth in the second article of Banking Board Resolution No.
JB-2008-1084, of February 26, 2008;
The unreal regulatory capital statement and the alteration of the balance sheets at
Filanbanco by its board members hid the actual situation of this financial institution and
the losses restricted to December 2, 1998;
[Stamp: “AGENCIA DE GARANTÍA DE
[Stamp: “AGENCIA DE GARANTÍA DE DEPÓSITOS. AGD.
DEPÓSITOS. AGD. GENERAL
QUITO”.]
SECRETARIAT
Portugal y Av. República de El Salvador, Plaza Real Bldg., Mezzanine – PBX: (593-2) 2262728, Quito, Ecuador
Av. Quito 713 y 1ero de Mayo, Torres del Parqueo Bldg., PBX: (593-4) 231-0350 / 231-1311 Guayaquil, Ecuador
[two illegible signatures on each page.]
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Article 29, as amended, of the Law of Economic Realignment in the Tax/Financial Area,
in the relevant part, orders verbatim that: “In those cases in which the board members
have declared unreal regulatory capital, have altered the figures of their balance sheets
or charged interest rates on interest, they shall guarantee with their personal assets the
deposits of the financial institution and Agencia de Garantía de Depósitos may seize
those assets that are publicly known to belong to the shareholders and transfer them to
a guarantee trust while their real ownership is being proven, in which case they shall
become resources of Agencia de Garantía de Depósitos and during this period their
disposal shall be prohibited”;
The Resolution of the Board of Directors of Agencia de Garantía de Depósitos (AGD) of
July 4, 2008, orders the General Manager, in all appropriate cases, to enforce the
provisions of the aforementioned rule of Article 29 of the Law on Economic
Reorganization in the Financial and Tax Area;
And, in the exercise of his legal powers and pursuant to the aforementioned provisions
and rules,
RESOLVES:
ARTICLE 1. Whereas those cases provided for in Article 29 of the Law on Economic
Reorganization in the Financial and Tax Area exist and have been proven, the seizure
is ordered of all the assets belonging to those who were board members and
shareholders of Filanbanco S.A. up until December 2, 1998, including any assets held
to be owned by them according to public knowledge, which shall be transferred to a
[Stamp: “AGENCIA DE GARANTÍA DE
[Stamp: “AGENCIA DE GARANTÍA DE DEPÓSITOS. AGD.
DEPÓSITOS. AGD. GENERAL
QUITO”.]
SECRETARIAT
Portugal y Av. República de El Salvador, Plaza Real Bldg., Mezzanine – PBX: (593-2) 2262728, Quito, Ecuador
Av. Quito 713 y 1ero de Mayo, Torres del Parqueo Bldg., PBX: (593-4) 231-0350 / 231-1311 Guayaquil, Ecuador
[two illegible signatures on each page.]
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guarantee trust that is to be created to this end, while the real ownership of these assets
is being proven, which assets shall become resources of Agencia de Garantía de
Depósitos (AGD).
ARTICLE 2. On each one of these assets, it is also ordered that their disposal be
prohibited and, to this end, the Registrars of the Real Estate and Commercial Registries
of all of the cantons of the Republic shall be notified. The assets, the seizure of which is
ordered, are any personal or real property, shares, holdings, fiduciary rights and/or
securities of any nature, credit rights, litigation rights, accounts, investments and
deposits of all sorts owned by or held to be owned by those who were board members
and shareholders of Filanbanco S.A. up to December 2, 1998. It is particularly ordered
that the companies owned by them and those that are publicly held to be owned by
those board members and shareholders be seized, including all of their assets and
other goods, among them the following:
AGRATE S.A., AGRIBU S.A., AGRÍCOLA AGRIMIOSA S.A., AGRÍCOLA ANDAOBAN
S.A., AGRÍCOLA BARRILETE BARRILESA S.A., AGRÍCOLA BELLADONA S.A.,
AGRÍCOLA E INMOBILIARIA DEL PACÍFICO S.A. (AIPSA), AGRÍCOLA EL JILGUERO
S.A. AGRIJIL, AGRÍCOLA GARRAPERO S.A., AGRÍCOLA GEOFLORA S.A.,
AGRÍCOLA GUAJALA S.A., AGRÍCOLA JORAPA S.A., AGRÍCOLA JOVITA S.A.
JOVITASA, AGRÍCOLA LA LLANURA S.A. LALLANU, AGRÍCOLA LAS PALMERAS
S.A. AGRILAPA, AGRÍCOLA LAS PIÑAS S.A. PIÑASA, AGRÍCOLA LAS UVAS S.A.
UVASA, AGRÍCOLA LAS VELETAS S.A. LAVELE, AGRÍCOLA LOS KIOSQUITOS
S.A., AGRÍCOLA RACUMINE S.A., AGRÍCOLA SAN ALEJANDRO SOCIEDAD
ANÓNIMA, AGRÍCOLA SURUCUA S.A., AGRIPOL S.A., AGROBAG S.A., AMEREXSA
S.A., ASOCIACIÓN O CUENTAS EN PARTICIPACIÓN “PROTAGONISTAS DE
TELENOVELAS”, ASTILLERO Y MARINA S.A. ASMAR, AZLEAS S.A., BASOLI S.A.,
BIOVITRO S.A., BRISACORP S.A., CADENA ECUATORIANA DE TELEVISIÓN,
[Stamp: “AGENCIA DE GARANTÍA DE
[Stamp: “AGENCIA DE GARANTÍA DE DEPÓSITOS. AGD.
DEPÓSITOS. AGD. GENERAL
QUITO”.]
SECRETARIAT
Portugal y Av. República de El Salvador, Plaza Real Bldg., Mezzanine – PBX: (593-2) 2262728, Quito, Ecuador
Av. Quito 713 y 1ero de Mayo, Torres del Parqueo Bldg., PBX: (593-4) 231-0350 / 231-1311 Guayaquil, Ecuador
[two illegible signatures on each page.]
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CA CANAL 10 CETV, CADENA HOTELERA HOTELCA C.A., CALUA S.A.,
CAMARONERA BARBOSA S.A., CAMPOCORP S.A. CAPRESA COMPAÑÍA
ANÓNIMA PREDIAL S.A., CARINCO S.A., CEILA CONSTRUCCIONES E
INDUSTRIAS LOS ANDES S.A., CENTROCORP COAMESA C.A., COBIRASA
COMPAÑÍA DE BIENES RAÍCES S.A., CODECARGA, COMPAÑÍA MINERA S.A.,
COMERCIAL FERIACORP S.A., COMERCIAL TERRATEC S.A., COMERCIAL
URIMET S.A., COMPAÑÍA AÉREA AÉREO EXPRESO S.A. COMARPREX,
COMPAÑÍA ECUATORIANA DE PAVIMENTOS S.A. CEPA, COMPAÑÍA MINERA
GRIBIPE S.A., COMPAÑÍA MINERA MÉNDEZ S.A., COMPAÑÍA TELEVISIÓN DEL
PACÍFICO TELEDOS S.A. COMPINSA COMPAÑÍA INMOBILIARIA S.A.,
COMPRACORP S.A., CONSORCIO INDUSTRIAL ARCIBLOC S.A., CONSTRUFIL
S.A.,, CONSTRUGUA S.A., CORIO S.A., CORPOFAX S.A., COYDESA COMERCIO Y
DESARROLLO S.A., CREART CIA LTDA, DATARIA C.A., DAVIMARIS S.A.,
DECAREA S.A., DEMOCORP S.A., DISOPONI S.A., DISPENSA DISTRIBUIDORA DE
PRODUCTOS Y ENSERES S.A., DOCECORP S.A., DUMASI S.A., EICA EMILIO
ISAÍAS COMPAÑÍA ANÓNIMA DE COMERCIO, ELECTRO IMPORSA S.A.,
ELIMINATORIAS AL MUNDIAL DE FÚTBOL DOS MIL DIEZ, EMPRESA EDITORA
ECUATORIANA EDECA C.A., ENTREVÍAS S.A., EQUICORP S.A., EXPORTROP S.A.,
FÁBRICA DE MOSAICOS DIAMANTE S.A., FABRIEQUIPOS C.A., FALERBE S.A.,
FARAONE S.A., FIDEICOMISO ECUDOS, FIDEICOMISO FOD — DOS,
FILANVALORES S.A., FUMIGACIONES AÉREAS DE CICLO CORTO FACICO S.A.,
FUSHIONCORP S.A., GALAPAGUITOS COMPAÑÍA ECUATORIANA DE FRUTAS,
GALAXFRUTA S.A., GAMABAX S.A., GAMACORP S.A., GELLI C.A., GIGANET S.A.,
GISE DESMOTADORES ASOCIADOS S.A., HARTIGI, S.A., HIER S.A., HILBACK
S.A., IEM BUSINESS S.A., INDUEQUIPOS INDUGRESO INDUSTRIAL PROGRESO
S.A., INDUPESCA S.A., INDUSTRIAL AGRÍCOLA GANADERA CINCO R S.A.,
INDUSTRIAL DON JUAN INDOJUSA S.A., INFORDATOS S.A., INGSA INGENIO LA
TRONCAL S.A. EN LIQUIDACIÓN, INMOBILIARIA BALLÉN S.A., INMOBILIARIA
CHIMBORAZO SOCIEDAD ANÓNIMA, INMOBILIARIA DEL CENTRO INMOCENTRO
S.A., INMOBILIARIA DOCE DE OCTUBRE S.A., INMOBILIARIA ERLASA S.A.,
INMOBILIARIA ESMASA C.A., INMOBILIARIA HOLSANTI S.A., INMOBILIARIA RIDAS
S.A., INTERCONTINENTAL DE MATERIALES I.M.C., COMPAÑÍA ANÓNIMA INTRAL
INTERNACIONAL DE VALORES S.A., INVERSEPA S.A., INVERSIONAL S.A.,
INVERSIONES URBANAS, S.A., INVERSIONES Y PROMOCIONES INPOCIA S.A.,
[Stamp: “AGENCIA DE GARANTÍA DE
[Stamp: “AGENCIA DE GARANTÍA DE DEPÓSITOS. AGD.
DEPÓSITOS. AGD. GENERAL
QUITO”.]
SECRETARIAT
Portugal y Av. República de El Salvador, Plaza Real Bldg., Mezzanine – PBX: (593-2) 2262728, Quito, Ecuador
Av. Quito 713 y 1ero de Mayo, Torres del Parqueo Bldg., PBX: (593-4) 231-0350 / 231-1311 Guayaquil, Ecuador
[two illegible signatures on each page.]
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INVERTRIC S.A., IVDETI C.A., IVERVOLCA C.A., JOCAL S.A., JUFADSAT CA.,
JUGOM S.A., JUTRUJI S.A., KIDER S.A., KLYSTRON S.A., KOCU S.A., KRAMEL
S.A., KURLAT S.A., LAMIPER S.A., LANTAGASA S.A. LARVACORP S.A., LIMBOZA
S.A., LITO-AUTOMÁTICA LIATOCA C.A., LOIRA S.A., LOS POTREROS BAJOS
(POBASA) S.A., LOTUSCORP S.A., MARINTECO S.A., MARIVA S.A., MATEUS,
PRODUCTIONS S.A., PRODMATEUS MAYRESA MÁQUINAS Y EXPOS S.A.,
MERCANTIL URBANA S.A., METROECONOMIC S.A., METROMOVIL.COM S.A.,
MILADEL S.A., MOGI C.A., MONZACORP S.A., MULTIAQUA S.A., MULTITRANS
S.A., NAVIERA CONTINENTAL NAVICON C.A., NORVIVIENDAS S. A., NOTICIN
CENTRO DE INFORMACIÓN Y NOTICIAS S.A., NOTIDIEZ NOTECA C.A.,
PERSONAGIL S.A., PETROMANABI S.A., PETROSUR S.A., PICORASA S.A.,
PREDIAL E INVERSIONISTA DEL ESTERO S.A., PREDIAL E INVERSIONISTA
ESCOBEDO S.A., PREDIAL E INVERSIONISTA LUZ DE AMÉRICA, PREDIAL EL
CAMINO S.A., PREDIAL ELIZABETH S.A., PREDIAL INMOBILIARIA CAMPO DE
TRIGO TRIGALSA S.A., PREDIOS E INVERSIONES LOS CIPRESES C.A., PREDIOS
ECUATORIANOS S.A., PESA, PREDIOS Y COMERCIO S.A. (PREYCO),
PREINDIANA, PREDIAL INDUSTRIAL S.A., PREINMOSA PREDIAL INMOBILIARIA
S.A., PRESDOMINSA, PREDIAL SANTO DOMINGO SOCIEDAD. ANÓNIMA,
PRISROD S.A., PRODUCARGO S.A., PRODUCTORA DE ALCOHOLES,
PRODUCTORA DE MARISCOS ISABEL C LTDA., RADIO DIFUSORA DEL PACÍFICO
S.A., RAPASA RAPISERVICIOS S.A., REKINSA S.A., RENIGEN S.A., REY COLA
RECOSA S.A., RICCACAN S.A., ROVERELLA S.A., SAPREIN PREDIAL
INMOBILIARIA S.A., SERLAT, SERVICIOS LATINOAMERICANOS S.A., SICRElM
S.A., SOCIEDAD INDUSTRIAL Y COMERCIAL EICA S.A., SULCOR S.A., SUONO
S.A., SVU OPERADOR DE TERMINALES S.A., TELECOMUNICACIONES
PERSONALES S.A., (TELEPERSON) TERRAFINSA TORNASA S.A., TRACTORES
Y MAQUINARIAS AGRÍCOLAS TRACMASA S.A., TRADEGRUP S.A., TRALEE S.A.,
TRANSPRODUC S.A., UNIÓN TEMPORAL CODANA S.A. - PRODUCARGO S.A.,
UTILIDAD Y MANDATO S.A., UTIMAS VITROECUADOR S.A., ZAMORA GOLD,
ECUDOS S.A. EMPRESA DE TELEVISIÓN SATELCOM S.A., TEVECABLE S.A.,
ROCAFUERTE SEGUROS S.A.
ARTICLE 3. I also order the seizure of all of the personal and real property, shares and
other securities or ownership rights of those who were board members and
[Stamp: “AGENCIA DE GARANTÍA DE
[Stamp: “AGENCIA DE GARANTÍA DE DEPÓSITOS. AGD.
DEPÓSITOS. AGD. GENERAL
QUITO”.]
SECRETARIAT
Portugal y Av. República de El Salvador, Plaza Real Bldg., Mezzanine – PBX: (593-2) 2262728, Quito, Ecuador
Av. Quito 713 y 1ero de Mayo, Torres del Parqueo Bldg., PBX: (593-4) 231-0350 / 231-1311 Guayaquil, Ecuador
[two illegible signatures on each page.]
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shareholders of Filanbanco S.A. up until December 2, 1998, as they may have in their
name, in the name of third parties or legal entities, in order for them to be transferred to
a guarantee trust while their real ownership is being proven, in which case they shall
become resources of Agencia de Garantía de Depósitos (AGD).
In addition, I order: 1. The seizure and prohibition against disposing of the real estate
owned by the aforementioned board members and shareholders of Filanbanco, S.A., as
may be recorded in the Real Estate and Commercial Registries of each and every one
of the cantons of the Republic and the respective officials must be notified as indicated
above; 2. The seizure and prohibition against disposing of any shares and/or corporate
holdings owned, directly or through third parties and/or companies, by the board
members and shareholders of Filanbanco S.A. up until December 2, 1998, in the
companies chartered and/or domiciled in Ecuador, for which the Superintendents of
Banks and Companies, respectively, and other officials of competent jurisdiction shall
be officially notified; 3. The seizure and prohibition against disposing of any of the
vehicles that the aforementioned board members and shareholders of Filanbanco S.A.
have recorded in their name and/or in the name of the companies listed in Article 2
above, in the National Traffic Department and in the Guayas Traffic Commission. To
this end, let them be officially notified as appropriate. 4. The seizure and prohibition
against disposing of the following watercraft: NUNCA MÁS, registered in the Port of
Guayaquil, under registration No. TN-00-00419, 59.28 tons of Gross Registered
Tonnage; AMNESIA, registered in the Port of Guayaquil, under registration No. TN-0000458; the fishing vessels PATRICIA, ANDREA, MARIELA; the aircraft Piper
PA31/HGBPA and
[Stamp: “AGENCIA DE GARANTÍA DE
[Stamp: “AGENCIA DE GARANTÍA DE DEPÓSITOS. AGD.
DEPÓSITOS. AGD. GENERAL
QUITO”.]
SECRETARIAT
Portugal y Av. República de El Salvador, Plaza Real Bldg., Mezzanine – PBX: (593-2) 2262728, Quito, Ecuador
Av. Quito 713 y 1ero de Mayo, Torres del Parqueo Bldg., PBX: (593-4) 231-0350 / 231-1311 Guayaquil, Ecuador
[two illegible signatures on each page.]
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Cessna Conquest HCBXH, as well as any other watercraft and aircraft registered in the
name of the aforementioned board members and shareholders, and of those companies
listed in Article 2 of this resolution. To this end, let all of the Nation’s Port Authorities and
the Civil Aviation Directorate be officially notified as appropriate. 5. Let the
Superintendent of Companies be officially notified in order to submit the histories of the
shareholders and/or partners of the companies listed in this Resolution and any
company as may prove to be owned directly or through third parties by those who were
board members and shareholders of Filanbanco S.A. up until December 2, 1998. 6. Let
the Internal Revenue Service Director (SRI) be officially notified in order for him to
submit all the information related to the companies, foundations and individuals named
in this Resolution.
ARTICLE 4. The seizure is ordered up to the amount of 661.5 million dollars of the
securities that the above-mentioned companies and of those who were board members
and shareholders of Filanbanco S.A. up until December 2, 1998, keep in any account,
deposit or investment in the Banking or Financial Institutions operating in the country.
To this end, let official notice be served on the Superintendent of Banks and Insurance
and the General Manager of the Central Bank of Ecuador.
ARTICLE 5. Those who were board members of Filanbanco S.A. up until December 2,
1998, who, pursuant to Article 29 of the Law of Economic Realignment in the
Tax/Financial Area, are the following: Roberto Isaías Dassum, Executive Officer;
William Isaías Dassum, Executive Vice President; Juan Franco Porras, General
Manager; Luis Pere Cabanas, Chairman of the Board; Estefano
[Stamp: “AGENCIA DE GARANTÍA DE
[Stamp: “AGENCIA DE GARANTÍA DE DEPÓSITOS. AGD.
DEPÓSITOS. AGD. GENERAL
QUITO”.]
SECRETARIAT
Portugal y Av. República de El Salvador, Plaza Real Bldg., Mezzanine – PBX: (593-2) 2262728, Quito, Ecuador
Av. Quito 713 y 1ero de Mayo, Torres del Parqueo Bldg., PBX: (593-4) 231-0350 / 231-1311 Guayaquil, Ecuador
[two illegible signatures on each page.]
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Isaías Dassum; Luis Chiriboga Parra, Jorge Pérez Pesantez, Regular Members of the
Board; Juan Carlos Plaza Plaza, Francisco Alarcón, Fernández – Salvador, Farid
Lértora Juez, Modesto Luque Benítez, Alternate Members of the Board; Roberto Mejía
Usubillaga, Vice President for the Sales Division, Roberto Gavilanes Martínez, Vice
President for the Operations and Services Division, Freddie Flores Estévez, Vice
President for the Financial Division, Mercedes Ávila de Nath, Vice President for the
Legal Division, Ricardo Seminario Rubira, Vice President for the Administration
Division, José Medina Serrano, Vice President for the Treasury Division, María del
Carmen Guzmán, Vice President for International Business, Ernesto Lebed Moreno,
Vice President for Marketing, Alfredo Ochoa Espinoza, Vice President for Development
and Systems, Gastón García González, Auditor General, Daniel Rodríguez Galarza,
Vice President/Universal Agent of Filanbanco Trust and Banking Corp., Olga
Arosemena de Guizado, General Manager of Filanbanco Trust and Banking Corp.
ARTICLE 6. Until the Guarantee Trust has been created, the seized company shall be
administered by the representatives of the President of the Republic, of the
Commanders of each of the three branches of the Armed Forces (Army, Navy and Air
Force), of the Solidarity Fund and Petroecuador, as well as Messrs. Enrique Arosemena
Robles, Óscar Herrera Gilbert and Luis Piana Bruno.
The Law Enforcement Agencies are authorized to break in, should the companies and
real property to be seized be locked and/or fail to allow access.
[Stamp: “AGENCIA DE GARANTÍA DE
[Stamp: “AGENCIA DE GARANTÍA DE DEPÓSITOS. AGD.
DEPÓSITOS. AGD. GENERAL
QUITO”.]
SECRETARIAT
Portugal y Av. República de El Salvador, Plaza Real Bldg., Mezzanine – PBX: (593-2) 2262728, Quito, Ecuador
Av. Quito 713 y 1ero de Mayo, Torres del Parqueo Bldg., PBX: (593-4) 231-0350 / 231-1311 Guayaquil, Ecuador
[two illegible signatures on each page.]
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ARTICLE 7. The employment stability of the workers working in the companies, the
seizure of which has been ordered in this resolution, is guaranteed.
Quito, D.M., July 8, 2008
[signature]
Carlos Bravo Macías
General Manager
Agencia de Garantía de Depósitos
I certify that this resolution was issued by the General Manager of Agencia de Garantía
de Depósitos, Dr. Carlos Bravo Macías.
[signature]
Lic. Edgar Velastegui Romero
Secretary-General
Agencia de Garantía de Depósitos
[Stamp: “AGENCIA DE GARANTÍA DE
[Stamp: “AGENCIA DE GARANTÍA DE DEPÓSITOS. AGD.
DEPÓSITOS. AGD. GENERAL
QUITO”.]
SECRETARIAT
Portugal y Av. República de El Salvador, Plaza Real Bldg., Mezzanine – PBX: (593-2) 2262728, Quito, Ecuador
Av. Quito 713 y 1ero de Mayo, Torres del Parqueo Bldg., PBX: (593-4) 231-0350 / 231-1311 Guayaquil, Ecuador
[two illegible signatures on each page.]