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1998-12-17 | Resolución 113/98

Added 2026-07-27 · Updated 2026-08-15

Resolution 113/98

The Board of Directors of the Central Bank of Bolivia accepts a negotiated debt settlement offer from the liquidating Caja Central de Ahorro y Préstamo para la Vivienda (CACEN), requiring the transfer of assets valued at $9,982,304.88, comprising $3,402,252.41 in cash and $6,580,052.47 in loan portfolio. The resolution also authorizes the accounting write-off of $401.67 in penal interest and $190.07 in commissions on the AID-W-068 credit line that were not recognized by the liquidator. The President of the Central Bank is authorized to sign the settlement agreement, with the power to adjust amounts based on the signing date, while the Legal Affairs Unit is tasked with homologating the agreement before the court.

Bolivia

Banco Central de Bolivia

BOARD RESOLUTION NO. 113/98 SUBJECT: AUTHORIZES SIGNING OF A DEBT SETTLEMENT AGREEMENT WITH THE LIQUIDATING SUPERINTENDENCY OF CACEN IN LIQUIDATION.

VISTOS: Banking and Financial Entities Law No. 1488 of April 14, 1993. Law 1670 of October 31, 1995, and the Statute of the BCB of February 20, 1997. Supreme Decree No. 24441 of December 13, 1996. Internal Note Liq. No. 0916/1036 from the Liquidating Superintendency of the Central Savings and Loan Bank for Housing (CACEN) in Liquidation. Report SEL-DEL 290/98 from the Financial System Management. Internal Audit Unit Report No. 033/98 of December 17, 1998. Legal Advisory Note ALEG 422/98 of December 21, 1998.

CONSIDERING: That Banking and Financial Entities Law No. 1488 establishes that the Superintendent of Banks and Financial Entities has the powers of Trustee, Liquidator, and assumes the legal representation of entities in liquidation for all legal purposes, with competence to sell the assets and pay the liabilities of the Entity in Liquidation. Likewise, it empowers the Liquidating Superintendents to pay the approved claims in the order of precedence of the Sentence of Degrees and Priorities issued by the Judge of the Liquidation.

//2. B.D. No. 113/98 That Law 1670 in its Article 54 paragraph p) and the Statute of the BCB in its Article 14 paragraph p), confer attributes on the Board of Directors to approve the acquisition of movable and immovable goods, as well as to authorize the signing of inter-institutional agreements. That Supreme Decree No. 24441 provides for the liquidation of CACEN and in its Article 4 authorizes public creditor entities of the Central Savings and Loan Bank for Housing to receive in payment of their claims the assets generated in the placement of resources lent or transferred by each of them, as well as to receive other assets owned by the Bank. That it is necessary to expedite the collection process of the claims held by the BCB in the Central Savings and Loan Bank for Housing in Liquidation, since otherwise, the administrative costs of the liquidation will continue to erode the recoverable assets of this entity to the detriment of the BCB. That according to Internal Audit recommendations, it is necessary for the Financial System Management to continue exercising the pertinent actions to obtain the payment of claims and corresponding interests. That through note Int. Liq. No. 0916/1036, the Liquidating Superintendency of CACEN formalized its payment offer accepting the result of the negotiation held with the Financial System Management of the BCB. That in its report SEL-DEL 290/98, the Financial System Management informed the Board of Directors of the status of the claims that this entity has with the BCB, stating that the negotiation with the Liquidating Superintendency has been completed based on the policies adopted regarding this matter, recommending accepting the negotiated debt settlement offer, as it represents the best alternative for the BCB to at least recover part of its claims. Likewise, it requests the accounting withdrawal from the BCB of penal interests and commissions not recognized by the Liquidating Superintendency of CACEN. That note ALEG 422/98 from the Legal Advisory establishes that it is the attribute of the Board of Directors to authorize the signing of the inter-institutional agreements that the Bank enters into.

//3. B.D. No. 113/98 THEREFORE, THE BOARD OF DIRECTORS OF THE CENTRAL BANK OF BOLIVIA RESOLVES: Article 1.- Accept the negotiated debt settlement offer between the Financial System Management and the Liquidating Superintendency of the Central Savings and Loan Bank for Housing (CACEN), according to which the entity in liquidation will transfer the entire portfolio generated with resources from the Central Bank of Bolivia, according to what is established in Article 4 of Supreme Decree 24441, in accordance with the following table:

DEBT SETTLEMENT ASSET OFFER (Expressed in Dollars)

Article 2.- Authorize the accounting withdrawal of penal interests of $401.67 and commissions of $190.07 from the AID-W-068 Credit Line, which were not recognized by the Liquidating Superintendency of CACEN.

Article 3.- Authorize the President of the BCB to sign the Debt Settlement Agreement with the Liquidating Superintendency of the Central Savings and Loan Bank for Housing (CACEN) in Liquidation, with powers to adjust the amounts and the composition of the assets based on the date of signing the Agreement, being required to report on the matter to the Board of Directors.

//4. B.D. No. 113/98 Article 4.- The Legal Affairs Unit will be responsible for homologating the Agreement before the Judge of the Case.

Article 5.- The Presidency and the General Management are charged with executing this Resolution.

La Paz, December 17, 1998

Juan Antonio Morales A.

Armando Pinell S. Jaime Ponce G. Fernando Campero