Conflict in Cauca and other reasons lead to the crisis at Ingenio La Cabaña, which entered into reorganization

El Ingenio La Cabaña, one of the largest companies in the sugar sector in Colombia, entered into the so-called bankruptcy or business reorganization law after requesting and being authorized by the Superintendence of Companies.

This after reaching million-dollar debts, among others, with the financial sector for $318,113 million and in the short term there is no way to pay them. These are:

West Trust: $17,839,000,000
Scotiabank Colpatria: $20,202,372,000
Citibank Colombia: $11,165,000,000
Bank of the West: $7,776,655,000
Credit and Investment Bank: $22,044,302,000
Banco Davivienda SA:$18,371,146,000
Bancolombia SA: $97,804,332,000
Banco de Bogotá SA: $83,649,138,000
Itaú Corpbanca: $22,733,625,000
Western Trust: $7,736,000
Your SA Invoice: $3,577,437,000

Progression Rentamás Collective Investment Fund. $5,167,207,000.

The company’s situation worsened due to the public order situation in the department of Cauca, the disputes between Afros and the indigenous people of Guachené, in the North of Cauca, who invaded private sugarcane fields, and climatic factors that reduced production. .

A decision that, although it seeks to save the company, puts at risk the direct employment of 3,000 workers and affects 750 small producers in the region who have commercial alliances with the Ingenio.

The cabin is owned by the Seinjet family. Its manager was Moises Seinjet, the Romanian immigrant who came to Buga in 1927 and in 1944, after his success, he moved to Miranda, Cauca and built a sugar emporium over the years.

Currently its shareholding composition is as follows:

AGRO El ARADO SAS
Share percentage: 33.13%
Number of shares: 7,322,085

DANATOR SAS
Share percentage: 31.85%
Number of shares: 7,039,651

MONTANA INVESTMENT COMPANY SAS
Share percentage: 31.85%
Number of shares: 7,039,651

SHULAMITE SEINJET OF RABINOVICH
Share percentage: 1.28%
Number of shares: 282,434