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in Costa Rica

“Buyer, beware”, main lesson in the Aldesa case

by Q COSTARICA Wednesday 13 March 2019, 10:10 pm 1.5k Views

The “aintervención judicial”, a process in Costa Rica akin to Chapter 11 in the United States, in the case of Aldesa provides a lesson for investors to beware before risking any significant investment to avoid loss of capital and/or interest payments.
“The plan of the three years is to advance the real estate projects to be converted to cash, and with that to pay out the investors, said Javier Chaves, president of Aldesa Corporación de Inversiones.
Last week, the Aldesa Corporación de Inversiones said it would close its close its Stock Exchange, suspend the payment for three years the payment of real estate projects that are not its Investment Funds, after requesting a judicial intervention.
Javier Chaves, president of the financial company, told La Republica, “We are honest