Efectos de la resolución No 571-2020-V de 04 de abril 2020 expedida por la junta de política y regulación monetaria y financiera en empresas que realizaron reestructuración de obligaciones (títulos valor) en el mercado de valores de Quito y Guayaquil ocasionado por la emergencia sanitaria

Abstract

This academic article is reflected in the financial impact left by the COVID- 19 pandemic in the Ecuadorian stock market, Resolution No. 571-2020-V of April 4, 2020, issued by the Monetary policy and Financial Regulation board, in companies that carried out restructuring of obligations (securities) in the stock market of Quito and Guayaquil by COVID-19. The decline in the economy was reflected globally specifically in Ecuador presenting complications when complying with payments for emissions through the stock market, for this reason, the relevant aspects are analyzed and identified as advantages and disadvantages that cause a restructuring of obligations, possible sanctions for not complying with payments of the different coupons and the financial impact caused by adhering to this resolution. Some of the companies involved were unable to meet their coupon payments on time since many had to stop their production due to the confinement that was carried out in 2020, that is why they saw the need to make deferrals or debt restructuring. For this a reasonable proposal must be presented to the Assembly of Bondholders itself that must approve it on its one hundred percent. In addition to this, the interests increased due to the renegotiated values and with this the companies also incur additional costs to have the pertinent advice at the time of making said deferrals. Finally, it should be mentioned that most companies manage to comply with their proposals and cancel the differed coupons without any problems, but not all of them manage to remain in the market and had to enter into liquidation process.