SBS dissolves 11 savings and credit cooperatives for not submitting their financial statements

The Superintendency of Banking, Insurance and AFPs (SBS) declared this Tuesday, April 26, the dissolution of 11 savings cooperatives and credit for not submitting its financial statements to the entity.

The text published today in El Peruano indicates that it is the cause of “planned inactivity”, which occurs when it is proven that the cooperative does not send its financial statements, in accordance with the Accounting Manual for Savings and Credit Cooperatives Not Authorized to Collect Resources from the Public, approved by SBS Resolution No. 577-2019.

In this sense, the regulation stipulates that when Level 1 or 2 Coopac present such inactivity, the SBS has the power to declare their dissolution and appoint a temporary administrator who will assume the representation of the cooperatives.

The dissolved cooperatives are:

1. Cooperative of Savings and Credit of the Workers of the Lima Sheraton Hotel Ltda. 118 Users Cooperative
2. Tu Alternativa Savings and Credit Cooperative
3. Caja Latina Savings and Credit Cooperative
4. La Luz de la Vega Savings and Credit Cooperative Ltd.
5. Investmind Limited Savings and Credit Cooperative
6. Savings and Credit Cooperative Our Capital Limited
7. Edifiquemos Savings and Credit Cooperative- Peru
8. Confimass Savings and Credit Cooperative
9. Shanghai Savings and Credit Cooperative Ltd.
10. John Paul II Savings and Credit Cooperative
11. Sumando Savings and Credit Cooperative

In application of article 9 of the Regulation of Special Regimes as of the date of publication of this resolution, the dissolved Coopacs are prohibited from:

• Initiate legal or administrative proceedings against you for the collection of credits at your expense.
• Pursue the execution of judicial resolutions issued against them.
• Constitute liens on any of the assets in guarantee of the obligations that concern him.
• Make payments, advances or compensations, or assume obligations on her behalf, with the funds or assets that belong to her and are in the possession of third parties.
• Establish a precautionary measure against their assets.

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