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The Ecuador Lawsuit.

Coronavirus crisis: The six factors that define the economic ‘shock’- Ecuador Times

Date: Apr 15, 2020

Companies that avail themselves of the agreement between the parties must not pay dividends to their shareholders during the recovery period and must guarantee the employment of their workers.

For example, to avoid layoffs, new salaries , different working hours may be agreed ; as well as extensions of terms and grace periods for debts, “said Martínez.

In addition, companies that reach agreements with their workers will be able to access financing, Martínez said.

For companies that cannot reach agreements with their workers, a liquidation regime will be created, which will last two or three years.

To read the full article on Ecuador Times, click here.