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Cofina alleged to be unconstitutional

Committee understands that bondholders of this public corporation do not have a secured debt

10 de septiembre de 2017 - 11:00 AM

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This content was published more than 7 years ago.
It is argued that the structure of Cofina also violates clauses that establish an order in repayment of debt and that prevent the approval of unbalanced budgets.
It is argued that the structure of Cofina also violates clauses that establish an order in repayment of debt and that prevent the approval of unbalanced budgets.

The committee of unsecured creditors in the case of Title III for debt adjustment filed a suit requesting to declare the debt of the Sales Tax Financing Corporation (Cofina) unconstitutional and to be considered as another credit without guarantee of repayment.

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