THE AUCTION OF 7 LOTS LOCATED IN THE PLAYAS CANTON IS UNNECESSARY, EXCESSIVE AND NULL



BANANERA NOBOA S.A. EXPORTER COMPANY has filed before the Second Chamber of the Tax Court, a Direct Action within which, it was requested the renovation of the 10% collateral of the alleged tax liability that  BANANERA NOBOA S.A. EXPORTER COMPANY has with the SRI (Internal Revenue Service), request that was managed favourably by BANANERA NOBOA S.A. EXPORTER COMPANY, presenting the respective collateral. This petition makes possible the recognition of the existence and validity of the Direct Action in which the SRI has intervened with various documents, and also the validity of the effects that the law provides to it, in other words, THE SUSPENSION OF ANY COLLECTION PROCESS AND AUCTIONS.

What need is there for the SRI to continue with these collection proceedings and auctions? Just the Hacienda La Clementina, with 7.326 hectares, represents a SUFFICIENT GUARANTEE FOR THE DISPUTE, over the alleged tax liability of BANANERA NOBOA S.A. EXPORTER COMPANY with the SRI. As of public knowledge, the Hacienda La Clementina of 7.326 hectares, according to the valuation of an independent expert, qualified and with a long trajectory, was valued in US$157,737,050.11.

We insist, the SRI must not continue with its auction proceedings over the 7 lots located in the Playas canton, and must suspend any additional collection action in the light of the above.

We warn the citizens to not participate in these auction proceedings, which will be null and illegal.

Diogenes Villacis Crespo

Legal Representative

TOSQUINI S.A.


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