Resolution No. JB-2015-3496 of the Banking Board of Ecuador

Banking Board of Ecuador

RESOLUTION No. JB-2015-3496

THE BANKING BOARD

CONSIDERING:

THAT Dr. Marcelo Ron Torres, through a communication dated August 4, 2014, indicated that via Official Letter No. BCE-DPBCQ-1381-2014, issued by the Director of the Closed Banking Project Quito of the Central Bank of Ecuador, a response was given to a request by Mr. Andrés Felipe Romo Molina for recalculation and correction of errors. Based on the Organic Law for the Closure of the Banking Crisis of 1999, it appears that the aforementioned Mr. Romo registered obligation No. 0010789610050611699 as a direct debtor with FILANBANCO for a total value of USD 0.65 as of June 9, 2014; with this background, Mr. Romo Molina addressed the Superintendent of Banks to request, on the grounds that he is not a debtor of said banking entity, "that you kindly declare void the coercive lawsuit instituted against me, as well as immediately suspend the auction of the assets improperly seized from my person, which is scheduled for a second time for August 12, 2014, until there is clarity on the facts, otherwise my constitutional rights and guarantees would be violated."

THAT through Memorandum No. SELC-2014-361, dated August 13, 2014, Dr. Marcelo Páez Sánchez, Secretary of Coactiva of the Subdirection of Entities in Liquidation and Coactivas, in relation to the petition of Mr. Andrés Felipe Romo Molina, informed that "the present coercive lawsuit has not been initiated against Mr. Romo Molina for his credits in Private Banking, but in his capacity as Former Administrator of the Serfin Limited Cooperative, based on the legal grounds indicated in the payment order of April 2012, to cover patrimonial deficiencies. And on the other hand, the Coactiva Judge, the executing official, is not competent to resolve this petition from the coerced party, but rather the Judge of Exceptions, namely the Contentious Administrative Tribunal." (sic);

THAT through Memorandum No. SELC-2014-362, dated August 13, 2014, lawyer Luis Passailaigue Molina, then Subdirector of Entities in Liquidation and Coactiva, brought to the knowledge of the Superintendent of Banks the report of the Secretary of Coactiva regarding the petition signed by Mr. Andrés Felipe Romo Molina, at the same time indicating that the coercive process initiated against him began based on credit titles issued by the Superintendent of Banks with the aim of recovering the patrimonial loss of the Serfin Ltd. Cooperative; and, that through Official Letter No. SG-2014-5557, dated August 20, 2014, addressed to Mr. Andrés Romo Molina, lawyer Juan Francisco Simone, Acting General Secretary, forwarded to the interested party a certified copy of Memorandum No. SELC-2014-361, dated August 13, 2014, indicating that it responded to the petition presented by him;

THAT with a written submission presented on August 26, 2014 and its extension presented on September 5, 2014, Mr. Andrés Romo Molina filed an appeal for review before the Banking Board against the administrative act contained in Official Letter No. SG-2014-5557, dated August 20, 2014;

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Banking Board of Ecuador Resolution No. JB-2015-3496 Page 2

THAT the present appeal is subject to what is provided in the second paragraph of the Third Transitional Provision of the Organic Monetary and Financial Code, which determines that the Banking Board will continue to act until it resolves all claims, appeals, and other administrative procedures it was hearing on the date of entry into force of the Code, within a period of one hundred and eighty days, extendable at the discretion of the Monetary and Financial Policy and Regulation Board;

THAT as indicated by the National Legal Intendancy of the Superintendent of Banks through the report contained in Memorandum No. INJ-DNJ-SAL-2015-0269 of March 31, 2015, the appeal for review was filed against Official Letter No. SG-2014-5557, dated August 20, 2014, which had as its purpose the notification of an official letter, meaning that the challenged official letter results in being an act of mere administration, from which there is no possibility of technical or legal analysis, therefore recommending its rejection; and,

IN exercise of its legal powers;

RESOLVES:

SINGLE ARTICLE.- REJECT the appeal for review filed by Mr. Felipe Andrés Romo Molina; and, consequently, CONFIRM Official Letter No. SG-2014-5557 of August 20, 2014, with which the content of Memorandum No. SELC-2014-361, dated August 13, 2014, was forwarded to the appellant.

NOTIFY.- Given at the Superintendent of Banks, in Quito, Metropolitan District, on the twenty-fourth of June of two thousand fifteen.

(Signature) Econ. Rodrigo Landeta Parra GENERAL INTENDENT, S PRESIDENT OF THE BANKING BOARD, E

I CERTIFY.- Quito, Metropolitan District, on the twenty-fourth of June of two thousand fifteen.

(Signature) Lcdo. Pablo Cobo Luna SECRETARY OF THE BANKING BOARD