A-1 Consultants (CA-1) reported that, continuing with its objective of concluding the liquidation process of Doe Run Peru (DRP), began the work to clean up and formalize the houses that are in the possession of the former workers of the La Oroya Metallurgical Complex, who still cannot register their property in Public Registries.
The asset liquidator explained that These are 1,045 departments located in the province of Oroya and the district of Saint Rose of Sacco, which were offered as payment to the workers terminated from the company in 2014, 2015 and 2016 by the previous liquidators. This was done in exchange for his debt pending collection with the DRP company (current debt) and charged to a future formalization, which was never carried out during the last nine years.
“This 2023 we have begun the process of formalizing and clearing up the 1,045 departments in favor of workers who only have one contract and no registration in the public records,” explained Richard Almerco, legal advisor to Consultores A-1.
The representative of CA-1 also indicated that, due to this problem, the owners of the houses cannot enter into any disposition contract or see an increase in their family patrimony.
In this regard, he said that the solution proposed by Consultores A-1 will correct these distortions and generate greater family well-being for property owners, including higher income from their sale, since their sale value “will be higher in case they have the registration of their property in the Registry Office of Tarma”.
What is the formalization proposal for A1 Consultants?
The bankruptcy liquidator’s proposal implies the elaboration of a new legal instrument that will correct the deficiencies of the contracts drawn up by previous liquidators —the same ones that are in the hands of the workers—, but without modifying the essential aspects of the original agreement.
“There are many abandoned workers for whom nobody has done anything, but we are starting with something; and, from now on, we are developing the formalization process that will lead to the next April 1st starting to work on the largest number of complementary addendums or minutes to formalize the properties”, indicated Almerco. He also added that the formalization process begins on April 1.
Source: Larepublica
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