Regulatory Alerts2015-07-09 | JB-2015-3511Resolution No. JB-2015-3511 of the Banking Board of Ecuador
The Banking Board of Ecuador issued Resolution No. JB-2015-3511 to dismiss an appeal filed by Seguros Sucre S.A. against an administrative order requiring payment to CELEC EP for insurance claims. The Board determined that it lacks the technical competence to adjudicate the specific monetary value of the damages, which requires specialized actuarial analysis. Consequently, the resolution annuls the previous administrative act and directs the parties to resolve the dispute through ordinary judicial channels.
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