High-profile companies, including the biggest football club in the country, Barcelona, collectively owe that $300 million in payments to Ecuador’s social security system. 

Yesterday the Social Security Institute of Ecuador (IESS) took control of a building housing a high school and university in Guayaquil. The Pert high school and the attached ESCA post-secondary institution belong to the same company, Dulcemar, which owes the IESS $105,000 as part of the payments it must make into the system as an employer.

Dulcemar’s parent company, Supercompania, has been carrying the debt for several years, the IESS says. The company’s owner also owns the properties where the schools operated.

“We can’t be permissive of this situation,” said Iván Espinel, IESSs Guayas director, who carried out the confiscation of the properties. He said the school’s building will be auctioned off in 90 days if the company doesn’t pay its debt. 

The schools continue to operate and don’t become property of the state: only the building. If the building is auctioned in 90 days and ceases to belong to Dulcemar, the schools will have to pay rent to the new owner.

After dealing with the Dulcemar properties, the same IESS agents went to confiscate property of and agriculture services company that owes them $547,000. At that address in the Trinipuerto, however, the owner committed to fulfilling 40 percent of the debt within 72 hours.

Barcelona’s soccer field, the Monumental, could be confiscated in a similar way if they don’t pay the $700,000 they owe the IESS.

“We have been in touch with the club’s legal representative and give them 72 hours to pay by certified cheque,” said Espinel.

“We aren’t a collections agency, but we do have to protect the interests of our clients,” Espinel said.

Original story