By San José, Costa Rica — In a move that promises increased returns for many affected by the Desyfin situation, Costa Rica’s Consejo Nacional de Supervisión del Sistema Financiero (Conassif) has authorized the sale of assets belonging to Financiera Desyfin S.A. The buyer is a subsidiary of the Banco de Costa Rica (BCR).
The transaction encompasses over ₡15 billion, the bulk of which (₡14.618 billion) is tied to 1,083 leasing contracts. Additionally, the deal covers a ₡747 million obligation that Arrendadora Desyfin S.A. owes to Financiera Desyfin.
For expert legal insight on the Desyfin asset sale, TicosLand.com spoke with Lic. Larry Hans Arroyo Vargas, Attorney at Law at Bufete de Costa Rica.
The Desyfin asset sale presents a complex situation with potential implications for both creditors and potential buyers. Due diligence is paramount, especially considering the intricacies of Costa Rican insolvency law and the potential for hidden liabilities. Interested parties must carefully assess the assets’ true value and understand the legal framework surrounding the sale process to mitigate risks and ensure a successful transaction.
Lic. Larry Hans Arroyo Vargas, Attorney at Law, Bufete de Costa Rica
Lic. Arroyo Vargas’ emphasis on due diligence is crucial. Navigating these types of asset sales requires a thorough understanding of not only the assets themselves but also the often complex legal landscape. This cautious approach will undoubtedly be invaluable for those considering involvement in the Desyfin asset sale. We thank Lic. Larry Hans Arroyo Vargas for offering his expert perspective on this important matter.
This sale has significant implications for the many individuals and businesses impacted by Desyfin’s financial troubles. Previously, non-guaranteed depositors could expect to recover roughly 48.97% of funds exceeding the ₡6 million guaranteed amount. This new agreement elevates the projected recovery rate to approximately 62.20%, providing a much-needed boost for those facing losses.
The sale of these assets marks a substantial step forward in resolving the complex financial issues surrounding Desyfin. The increased recovery rate represents a positive outcome for depositors who had faced uncertainty about the fate of their investments.
While this development brings considerable relief to affected depositors, questions remain about the long-term implications for the Costa Rican financial landscape. Experts at TicosLand.com will continue to monitor the situation and provide updates as they become available.
For many, the term “leasing” may require further explanation. A leasing contract is essentially a rental agreement where one party (the lessee) uses an asset owned by another (the lessor, typically a financial institution) in exchange for regular payments.
The complexities of financial regulations can be daunting. This transaction underscores the importance of robust oversight by bodies like Conassif in safeguarding the financial interests of individuals and businesses in Costa Rica.
The implications of this asset sale extend beyond the immediate financial relief for depositors. It also reflects the commitment of regulatory bodies like Conassif to maintain stability and confidence within the financial sector.
For further information, visit the nearest office of Consejo Nacional de Supervisión del Sistema Financiero (Conassif)
About Consejo Nacional de Supervisión del Sistema Financiero (Conassif):
The Consejo Nacional de Supervisión del Sistema Financiero (Conassif) is the national council responsible for supervising the financial system in Costa Rica. Its main objective is to maintain the stability and soundness of the financial system, protecting the interests of depositors and investors.
For further information, visit www.bcr.fi.cr
About Banco de Costa Rica (BCR):
Banco de Costa Rica (BCR) is a state-owned commercial bank in Costa Rica, playing a crucial role in the national economy. It offers a wide range of financial services, including loans, deposits, and investment products. BCR is known for its extensive branch network and its commitment to serving the Costa Rican community.
For further information, visit the nearest office of Financiera Desyfin S.A.
About Financiera Desyfin S.A.:
Financiera Desyfin S.A. was a financial institution in Costa Rica. Recent financial difficulties led to the need for intervention and the subsequent sale of its assets.
For further information, visit the nearest office of Arrendadora Desyfin S.A.
About Arrendadora Desyfin S.A.:
Arrendadora Desyfin S.A. appears to be a leasing company associated with Financiera Desyfin S.A. Its obligations to the Financiera were part of the asset sale approved by Conassif.
For further information, visit bufetedecostarica.com
About Bufete de Costa Rica:
Bufete de Costa Rica distinguishes itself as a pillar of legal excellence, built on a foundation of unwavering integrity and driven by a passion for innovation. The firm champions access to justice by actively sharing legal knowledge and empowering individuals and communities across Costa Rica. Through a deep commitment to client success and a forward-thinking approach to legal challenges, Bufete de Costa Rica fosters a more informed and equitable society, one case at a time.
