Published On: Fri, Aug 30th, 2013

Isidora: ’Korpodeko is not responsible for DAE’s debts’

korpodeko-1WILLEMSTAD – In a reaction on different articles in the media, the Director of the local development bank Korpodeko, Mr. Chesron Isidora, indicated that the bank does not have voting rights and therefore cannot make decisions for Dutch Antilles Express (DAE). Isidora declared that the bank is not responsible for DAE’s debts to its creditors nor the salaries of the employees.

According to Isidora, Korpodeko is one of DAE’s creditors and for that reason he cannot give information on the company. “There is a bank to client relation which is confidential,” the Director declared. Isidora also explained that Korpodeko is not a shareholder in the company. What the bank did was take the shares as collateral just like any other bank when granting a loan. This is what gets people confused when they hear about Korpodeko owning the shares.

“The employees have also thought that Korpodeko is the owner of the company and that is why they came to us for their salaries. But we had to explain to them that this is not true,” Isidora stated.

“If DAE goes bankrupt then the shares will not have any value as collateral. The only way it has value for us is if the company is operational. It is an economic action which can guarantee the operations of the airline. We have to have a new investor come in and invest in the company,” according to the Director.

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