Asuncion, IP Agency.- The Attorney General’s Office (PGR) reported in a statement that 100% of the shares of Copaco SA are owned by the Paraguayan State, which is why it is appropriate for it to request the lifting of the embargo on its assets.
The embargoes are applied during trials brought by former officials, so the PGR promoted the lifting and obtained in the cases of five properties and ten bank accounts of the company.
The PGR clarifies that Copaco is a public company, in accordance with Law 5,058/13, therefore, its assets are property of the Paraguayan State and it is the responsibility of the Attorney General’s Office to defend them.
The ruling for the seizure of assets determined that Copaco, being a state-owned company, has assets that cannot be seized in accordance with Art. 716, paragraph b) of the Civil Procedure Code.
In one of the cases, recently resolved in favor of the State, the court lifted the embargo on two properties in Mariano Roque Alonso, two in San Roque and one in San José de los Arroyos, in addition to the sums in the bank accounts: ₲ 17,718,393 and ₲ 5,542,921 from Sudameris Bank SAECA; ₲ 7,063,000 and ₲ 19,181,000 from Visión Banco SAECA; ₲ 93,131,163 from Banco Continental SAECA; the sums of ₲ 2,400,570; ₲ 58,066,182; ₲ 11,054,892; ₲ 10,000,000 and ₲ 10,529,598, respectively, from the National Development Bank.
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2024-09-19 15:00:11
Paraguayan public.
Table of Contents
Procuraduría General to Pursue Request for Lifting of Embargo on Copaco SA Assets
The Attorney General’s Office (PGR) of Paraguay has announced its intention to continue pursuing the lifting of the embargo on the assets of Copaco SA, a state-owned company. This decision comes after the PGR successfully obtained the lifting of embargoes on five properties and ten bank accounts belonging to the company.
Background
Copaco SA is a public company, as mandated by Law 5,058/13, and as such, its assets are considered property of the Paraguayan State. The Attorney General’s Office has the responsibility of defending these assets and promoting the interests of the state.
The Embargo
The embargoes were imposed as part of legal proceedings initiated by former officials against Copaco SA. However, the PGR argued that the company’s assets cannot be seized, citing Article 716, paragraph b) of the Civil Procedure Code, which states that assets of the state cannot be subject to seizure.
Ruling in Favor of the State
Recently, the court ruled in favor of the state, lifting the embargo on two properties in Mariano Roque Alonso, two in San Roque, and one in San José de los Arroyos. Additionally, the embargo was lifted on several bank accounts, including those held at Sudameris Bank SAECA, Visión Banco SAECA, Banco Continental SAECA, and the National Development Bank.
Significance of the Ruling
The Attorney General’s Office views the lifting of the embargo as a significant victory for the state, as it ensures that the assets of Copaco SA remain protected and available for the benefit of the
– What are the implications of the Attorney General’s Office seeking to lift the embargo on Copaco SA’s assets?
Paraguayan State’s Ownership of Copaco SA: Attorney General’s Office Seeks Lifting of Embargo on Assets
The Attorney General’s Office (PGR) of Paraguay has announced that 100% of the shares of Copaco SA are owned by the Paraguayan State, emphasizing the need to lift the embargo on its assets. This move comes in response to trials brought by former officials, during which the embargoes were applied.
State-Owned Company
Copaco SA is a public company, as established by Law 5,058/13, making its assets the property of the Paraguayan State. As such, it is the responsibility of the Attorney General’s Office to defend them. The PGR has been proactive in promoting the lifting of the embargoes, securing successes in five cases involving properties and ten bank accounts of the company.
Legal Basis for Lifting Embargo
The ruling for the seizure of assets determined that Copaco, as a state-owned company, has assets that cannot be seized in accordance with Article 716, paragraph b) of the Civil Procedure Code. This provision prohibits the seizure of assets that belong to the State or public entities, emphasizing the inviolability of state property.
Recent Victories
In one of the recently resolved cases, the court lifted the embargo on two properties in Mariano Roque Alonso, two in San Roque, and one in San José de los Arroyos. Additionally, the embargo was lifted on sums in various bank accounts, totaling ₲ [amount]. These victories demonstrate the PGR’s commitment to protecting the State’s interests and assets.
Implications
The Attorney General’s Office’s efforts to lift the embargo on Copaco SA’s assets have significant implications for the country’s economy and governance. By ensuring that state-owned companies are protected from arbitrary seizures, the PGR is promoting a stable business environment and upholding the rule of law.
Conclusion
the Attorney General’s Office has taken a crucial step in protecting the Paraguayan State’s interests by seeking the lifting of the embargo on Copaco SA’s assets. This move reinforces the importance of safeguarding state-owned companies and promoting a culture of transparency and accountability in public administration.
Keywords: Attorney General’s Office, Copaco SA, Paraguayan State, embargo, state-owned company, Law 5,058/13, Civil Procedure Code.
Meta Description: Learn about the Attorney General’s Office’s efforts to lift the embargo on Copaco SA’s assets, promoting a stable business environment and upholding the rule of law in Paraguay.
Header Tags:
H1: Paraguayan State’s Ownership of Copaco SA: Attorney General’s Office Seeks Lifting of Embargo on Assets
H2: State-Owned Company
H2: Legal Basis for Lifting Embargo
H2: Recent Victories
H2: Implications
H2: Conclusion
