NewsWhore
06-23-2009, 03:20 PM
The Institutionalism and Justice Foundation (Finjus) said yesterday that the Dominican government is legally obliged to make a public offer in the sale of shares in the Dominican Petroleum Refinery (Refidomsa).
Finjus executive vice-president lawyer Servio Tulio Castanos Guzman said that there is no special rule in the Dominican administrative legislation on the sale of incorporated assets, such as the sale of shares that are property of the state in corporate entities.
He pointed out that for this type of asset the provisions of Article 5 of Law 340-06 apply, thus obliging selection procedures to be followed. He said it was 'inappropriate' for the government to exclude the contracts of private law.
Lawyer Mariano German has gone on record saying that the shares sale did not have to go to Congress and was not subject to any obligation of being offered for tender.
More... (http://www.dr1.com/index.html#7)
Finjus executive vice-president lawyer Servio Tulio Castanos Guzman said that there is no special rule in the Dominican administrative legislation on the sale of incorporated assets, such as the sale of shares that are property of the state in corporate entities.
He pointed out that for this type of asset the provisions of Article 5 of Law 340-06 apply, thus obliging selection procedures to be followed. He said it was 'inappropriate' for the government to exclude the contracts of private law.
Lawyer Mariano German has gone on record saying that the shares sale did not have to go to Congress and was not subject to any obligation of being offered for tender.
More... (http://www.dr1.com/index.html#7)