Bananera Noboa Owes 93 Million USD In Unpaid Debt

Bananera Noboa, owned by banana baron Alvaro Noboa, has been called upon by Ecuador's Director of Revenue Service to pay back unpaid taxes totaling $93 million via an auction of goods and land, which will run from October 22nd until the 31st, according to El Universo.

The company’s goods, which includes 6 aircraft, 2 yachts, 9 vehicles, and 7 plots in the Playas canton and the La Clementina banana plantation, has been valued at over $136 million, said Carlos Marx Carrasco, the Director of Revenue Service (SRI). The most valuable property that will be auctioned is the La Clementina banana plantation, which covered 11,500 acres. The plantation was seized in May this year, according to El Universo. The auction will start at about two-thirds or 70% of the value of the goods, while the surplus will be returned to the company.

Carrasco remarked that “turning the page of this case has been bothersome, tortuous, and an eventful process,” but he is hopeful the managers and owners of the company will pay the debt.

The Labor Ministry said that after the closing of the La Clementina plantation, workers will be the first to collect their settlements and calculations of the values are currently underway.

Stay tuned to AndNowUKnow as we continue our coverage on Bananera Noboa’s debt payments.

El Universo

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