iN LIQUIDATION Previous Considerations As well as Article 90 of law 17 of 1997, the basic function of the Liquidating Commission's Realize the asset and settle the liability . In the case of COACECSS be taken into consideration: 1. The main asset is the loan portfolio. Based on figures preliminary for 2012, this equivalent to 71% of the value of assets. 2. The average maturity of the portfolio (duration) is vastly superior to those of the deposits, taking as source databases Cooperative is found that the average duration of the loan portfolio than 10 years. Project settlement - COACECSS Investments 21% Fixed 3% portfolio 71% Other 1% Cash 4% 5 iN lIQUIDATION the two above circumstances, compel conclusion that necessarily the realization of the assets of the cooperative requires the liquidation of the portfolio before contractual maturity and therefore it will require the sale of the same, as it would make no sense keep the settlement for as long period of time whenever the cost of doing so destroys their value economic-. Project settlement COACECSS
New website, email them with your questions, you are paying them BIG $$$'s:
I have confirmed, with repeated calls & emails, that as "Suspected", the Landons are on Vacation since 12-22-17! 😡
OK, so I finally know what the Coacecss website is for, to tell us when they are on Vacation with our money:
After 7 long years, the "Liquidators" are $Rich$, and they are finally following through on their promises:
As we all know, the so called "Liquidation" is a "Scam & Money Grab by the "Last & Present Government Administrations in Panama, mainly against Gringos, but the Members have been caught up in the "Scam",too. The "Liquidation" was implemented under "Law 17 of 1997". This Law outlines the procedure for a "Liquidation", you can see the Law reference in Spanish & English, below. Law 17 does not "Authorize" IPACOOP or the Liquidator, to go on a "Political Witch Hunt", with the Savers, Creditors, or Members funds. But, this is exactly what happened, when Roderick & Wille, "BLEW" nearly $1M of our money on "Political Bull Shit", so they could discredit the CD Administration and "REAP" huge "Commissions", on "No Bid Contract"(see financial below). No Semi Annual Reports in 2017, no Communication of the Liquidation for 9 months, "No 100% return of Savings as Guaranteed by Roderick, No Transparency. Email & phone requests for information go unanswered.....Extremely Arrogant & Ignorant people!
Notice the % of the payment is not stated, the normal "M.O." of Capo Roderick. The % is "Rumored" to be 25% of your remaining balance. So, after more than 5 years of "Lies & Thievery" they have "Burned" on average, $200K/mo, and returned around 80% of your "Savings". The "Liquidacion" ended in Oct and Capo Roderick has gone on the "record" many times, promising the return of 100% of "Savings"????
Thoughts about the Liquidacion:
The details about "direct deposit" of your final payment can be found on the website:
OK, so I am not too smart, BUT, I have a Real Problem with the second Liquidator, Capo Roderick, "rehashing " the Liquidation. This is "NOT HIS JOB" to "Agree" with the "Intervention" and Disagree with the "Liquidation". It is" HIS JOB", which he has proven that he is Incapable of doing, to Liquidate Coacecss and return the Savings & Aportaciones. This Capo is probably "Worse" than Martinelli, a little "Hitler" with no respect for US or his Job. He is only there for what he can Steal. You might notice that his "so called business" did not have a website until late 2014, after the last Presidential Election. Then, he is "Appointed" as the" President" of the "Liquidation Commission" and the website Sails, when he is "collecting, but not earning $10K/month", from our "Savings"!
SIN VERGÜENZA, ¡ESTE PEQUEÑO PUNK!
COACECSS IN LIQUIDATION-THE TRUTH
WANTED: For "Controlling $13M + of our Savings & $ 16M of Aportaciones, and for BEING MISSING IN ACTION ", since May 2017 ?????
So, the "Idiots" have crudely modified the payment schedule and eliminated the Nov 20-17 post date:
Here is a Translation of President Roderick's Telemetro Interview: http://www.telemetro.com/nacionales/Coacecss-realizara-proximo-desembolso-finales_0_1027697674.html
Here is the Dec 2017 Payment Schedule. Notice it was dated Nov 20, 2017, but was posted to www.coacecsspanama.com on Dec 5 2017 at 2 PM:
AS OF 1/8/2018 THEY ARE BACK IN THE OFFICE. STILL STATING ANOTHER PAYMENT IS COMING IN 6 MONTHS, BUT NO HINT OF THE AMOUNT. TOTALLY UNACCEPTABLE BEHAVIOR, TAKE A 3 WEEK VACATION WITH THE EXCUSE OF "SYSTEM MAINTENANCE"! BUT, THE "LANDRONS" ARE IN CONTROL, UNTIL THE NEXT ELECTION....12-23-18 ANOTHER LIE!