InvestorsHub Logo
Followers 7
Posts 914
Boards Moderated 0
Alias Born 11/04/2010

Re: None

Sunday, 04/23/2017 11:23:25 AM

Sunday, April 23, 2017 11:23:25 AM

Post# of 26631

Search

Menu
PANORAMA
TODAY'S TOPICS: mici (ministry of commerce and industry) Venezuela Religion Mossack Fonseca Lava Jato Supreme Court of Justice Dana Castañeda Knockout

PROVINCE OF COCLÉ
Judge does not suspend suit against Fifer

Olmedo Rodríguez 21 Apr 2017 - 00: 00h
Topics: CSS Richard Fifer Petaquilla Gold Supreme Court of Justice
Richard Fifer, in the audience. Expand Image Richard Fifer, in the audience.
Richard Fifer, in the audience. Ana Rentería
In a closed-door hearing, Coclé Province's Compliance Court did not accede to a request from the Social Security Fund (CSS) to revoke the suspension of the process against the former governor of Coclé Richard Fifer , for the alleged Retention of quotas of Petaquilla Gold and Panama Development of Infrastructures .

+ INFO

Social Security Fund requests reopening case of Richard Fifer
Prosecutor appeals in process to Fifer
Compliance judge Domingo Montenegro determined that he could not accede to the suspension of the process, because the agreement between Fifer and CSS for the payment of the quotas owed establishes a period of three years for its fulfillment, and that time has not ended.

The alleged quotas amount to $ 3.1 million, in the case of Petaquilla Gold, and another $ 3.3 million in the Panama Development of Infrastructure.

Humberto Ledezma , legal representative of CSS in the process, said the petition was made based on the employer's failure to meet the monthly payment.

Meanwhile , Tomás Góndola, lawyer of Fifer, indicated that there was no argument to open the process. Gondola said that his defendant is going to face the commitment with CSS, and assured that a partial payment was made in December 2016 of the quotas, although he acknowledged that in 2017 they have not fulfilled the payments.


Fifer said he is willing to fulfill the commitment, but asked the CSS to inform him the final amount of the debt.

He indicated that by the middle of this year, Petaquilla Gold could enter the preoperative stage for the extraction of minerals, but without commercial purposes.

The Court of Compliance announced to the parties that next August 11 will be a hearing to address the issue of late payments that the employer maintains with CSS.

The lawsuit is being investigated by the Sixth Anti-Corruption Prosecutor's Office and was suspended since February 4, after a Coclé guarantor judge accepted a request from Fifer's lawyers to reach settlement with the CSS.

Fifer has been unable to leave the country since August 2016.
Join InvestorsHub

Join the InvestorsHub Community

Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.