Press Release – Sylka Sánchez – Hacienda “La Clementina”

1) Today, in an irrational and daunting way, and totally unnecessary, using the presence of military officers, policemen and a battalion of tax officials, in another act within this political media show, which is now common to the SRI, it was announced to us, the seizure of the Hacienda “La Clementina”.

2) Exporter Bananera Noboa, has denounced publicly, the exercise of legal proceedings of effective legal protection and legitimate exercise of our right to defend ourselves, and also the successive arbitrariness of the tax administration.

3) The action taken today, is null and void, illegal and illegitimate, because, in the Fourth Chamber of the District Tax Court, there is an exception lawsuit, raised by Exporter Bananera Noboa, which suspends the execution of the coercive process, as required by the law in the article 214 of the Tax Code; lawsuit that remains pending resolution.

4) We reserve the right to exercise legal international actions against the officials that are acting against the law.

This action will only generate a social problem to the employees, and also to the national and international consumers; because, despite not having embargoed the company, it has been ordered the withholding of the credits, which could have employment implications.

5) We ratify our request for the intervention of the President, Economist Rafael Correa, as a mediator, to be able to demonstrate technically the illegality of the gloss, so we can close this regrettable episode of abuse against the Exporter Bananera Noboa.

Some might think that there is a veiled intention to lower the real value of the hacienda, so it cannot cover the total amount of the illegitimate gloss, because, while it is true that the company embargo is not ordered and textually it has been said that the rights of the workers won’t be affected, in the same resolution it is ordered the WITHHOLDING of the CREDITS.

Operationally, is through the collection of our debtors that we operate and pay the employees, our suppliers, inputs, etc. In other words, if the withholding remains, the cash flow of the business would be affected and in a matter of weeks, the hacienda “La Clementina” will go broke, with the consequent reduction of its market value.

Dr. Sylka Sánchez C.