Petaquilla Minerals Ltd. (fka PTQMF)

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Rodrigo Esquivel Klein and Richard Fifer Carles have maintained a close relationship, but now not even look at his face in the hearings held in the accusatory system Cocle, as part of the investigation into the alleged withholding of dues Box Social Security (CSS) by Petaquilla Gold.
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On 20 November 2015 a hearing, in which he was charged was held Esquivel charges. Almost five months later, it is an important witness of Public Prosecutions. April 4 last, the investigating judge Sandra Castillo endorsed a "partnership" agreement between the sixth anti-corruption prosecutor, Aurelio Vasquez, and Esquivel's lawyer, Roberto Moreno.
Marilyn Melgar, Fifer lawyer protested. He argued that the prosecution never offered his client a similar treatment and objected that an agreement with Esquivel, according Melgar- only responsible for the alleged withholding quotas to be agreed CSS.
OLD DIFFERENCES
In 2005, Fifer, former governor of the province of Cocle, became president of Petaquilla Gold, a subsidiary of transnational Petaquilla Minerals. Since then he has served intermittently.
Under his management, he developed mining exploration of gold in the land of Columbus. His lawyer notes that when the company was ready to export, in 2009, the problems started with the newly installed government of Ricardo Martinelli.
In July of that year, Martinelli premiering the presidential band, gave the first "pressure", with the clear purpose of making the former governor cede the management of the company.
In a report of the Fifth Circuit Notary, dated September 15, 2009, the resignation of all directors of Petaquilla Gold certified. Later, in a meeting on November 13 that year, a new board was elected, with Rodrigo Esquivel Klein as president. a new resident agent, which went to the firm Grimaldo and Tejeira was also selected. Moreover, he entered
director Raul Ferrer, whom the defense of Fifer identified as "amanuensis" Martinelli, like Esquivel, who has denied these accusations with the main argument that militates in an opposition political party of former president.
Esquivel managed Petaquilla Gold for five years until August 2014, coinciding with the end of the Martinelli administration. Fifer replaced in September of that same year.
DEBTS AND ELECTIONS
In the twilight of presidency Martinelli, Petaquilla Gold opted to sell land a balloon Minera Panama, S.A. (MPSA).
It was a "second amendment" [Second Amendment] MPSA signed by the board in participating Ferrer and Esquivel.
The agreed sale price was $ 60 million. MPSA paid $ 50 million to Petaquilla Gold, leaving a balance of $ 10 million.
According to the documents of the time, it was agreed that part of the capital would be used as follows: $ 895,000 to cancel settlement of employees and another $ 194,000 to pay payrolls in March and April and the first game of the thirteenth month. Also they would cancel $ 476,000 in arrears to the CSS.
Fifer Esquivel accused of violating the agreement and use the money to pay off debts acquired millions with banks.
In the documents show that on that date, at least five bank accounts Petaquilla Gold, which Esquivel and other executives were signatories were overdrawn and closed.
Esquivel and Fifer acknowledges that he signed the agreement with MPSA, and received disbursements of the transaction later five months of the due date in July 2014.
"The delay of five months to receive the settlement funds, coupled with the suspension of gold production by the lack of liquidity meant that when funds are received, the amounts to be canceled were much higher than those established in the agreement" said Esquivel on a questionnaire sent La Prensa.
According to Esquivel, Fifer and his team negotiated those tables disbursement, including, among others, payments to pay the debt with the employer-employee quotas CSS.
With respect to bank accounts reflecting an overdraft, Esquivel admitted that Petaquilla Gold had loans to finance
working capital operation and equipment purchases. The company worked with several banks in the town and he explained credit committees of each were those who decided to grant or not the same.
"This man [Fifer] is a specialist in obscure and want to see as normal criminal acts that are specific to the operational activity of any company," he said.
DEMAND AND QUOTAS
In January 2015, given the non-payment of worker-employer contributions, Euribiades Vernaza, CSS lawyer, filed a complaint against Cocle Fifer -for their status as legal representative of Petaquilla Gold- because of the alleged retention worker-employer amounting to $ 3.2 million. quotas
Subsequently, the CSS filed a second complaint, this time against Panama Infrastructure Development, S.A., a company linked to Petaquilla Gold, for allegedly withholding another $ 3 million in fees.
In February of that year, the first judge of Cocle, Civil Branch, Omaira Quezada Macías declared bankrupt Petaquilla Gold.
The CSS claims payment of dues October, November, December 2014 and January 2015, a period in which allegedly illegally retained quotas. With the delay of more than three installments, the CSS can take legal action against the debtor, as the norm.
Fifer defense argued that the complaint is not justified, because his client did not have the key to access the System Revenue and Economic Benefits of CSS (SIPE) in the period in which supposedly the facts alleged occurred. The key, according to the lawyer Melgar- Esquivel had it not Fifer.
DEBT OF QUOTAS
Debt Petaquilla shares with CSS is longstanding. On September 13, 2013, Esquivel -a name of the mineral signed a payment arrangement through which promised to cancel outstanding dues from January to August 2013.
Before the breach of that agreement, the court executor of the CSS in Cocle ordered the April 10, 2014 seizure of the farm 20450 Petaquilla Gold, for $ 3.2 million.
On July 25, 2014, Petaquilla Gold completed the agreed payments in the agreement signed in September 2013. But by then,
and the corresponding fees owed October 2013 to June 2014.
There was a new payment agreement with CSS. Esquivel made a payment of $ 346,000 and agreed to pay $ 2.1 million in 24 monthly bills of $ 87,000 each.
Then the Executor Court lifted the embargo on the estate 20450. Fifer not understand why the CSS left without a good collateral to recover the accumulated debt of the company.
Fifer Esquivel accused of failing to honor the agreed payment before leaving the company in August 2014. "At the time that the agreement no longer meets, criminal and administrative responsibilities are generated," Esquivel said.
Processes to recover the debt of Petaquilla Gold and Infrastructure Development of Panama, S.A., were joined in a single file, which handles fiscal Vasquez.
About payment arrangements, he called the former director of the Social Insurance Fund Guillermo Sáez-Llorens, and did not respond. While the current director, Estivenson Giron said he was travel outside the country and could not answer questions about the alleged evasion of quotas.
FRAME AND ACCUSATIONS
Sources close to Fifer and his legal team argue that Esquivel allegedly used to achieve certain links payment arrangements with CSS.
They recalled that when Esquivel was deputy director of the CSS in the government of Mireya Moscoso (1999-2004), Giron, the current director, was his subordinate.
Francisco Batista a exauditor Petaquilla, now is the head of the CSS audit.
Maricruz Obaldía, coordinator of Health Facilities CSS was assistant Esquivel in the mining company. These sources close to Fifer not rule out that these links would favor Esquivel.
Esquivel replied that no friendship with Giron and Batista and worked in Petaquilla Gold Obaldía years before he directed the mining.
"I want Fifer seems unfair that involve diligent and dedicated, and they were forced to leave the company by the nonpayment of their salaries," he said.
Giron confirmed that meets Esquivel, but their friendship nor the officials mentioned influenced payment arrangements Petaquilla Gold.
With Esquivel as a witness, now the Sixth Anticorruption Prosecutor could ask arraignment hearing against the former governor of Cocle, next week.
(With information from Rosalia Simmons)
- See more at: http://www.prensa.com/locales/entramado-Fifer-Esquivel_0_4456804384.html#sthash.81pIlX6V.dpuf