I.- Legal news

1.- Repeal of the resolution of the Superintendency of Companies that required the presentation of various documents for the registration of appointments.

Source: Resolution No. SCVS-INC-DNCDN-2023-0022

On October 26, 2023, the Superintendent of Companies, Securities and Insurance signed Resolution No. SCVS-INC-DNCDN-2023-0022, through which he repealed the rule that the same entity had issued in order to require the presentation of several certificates for the registration of appointments. This repeal will come into force from its publication in the Official Registry.

Click to read the complete regulations.

2.- Favorable opinion of the Constitutional Court regarding the “Free Trade Agreement between the government of the Republic of Ecuador and the government of the People’s Republic of China.”

Source: Opinion 8-23-TI/23

By Opinion 8-23-TI/23 approved on October 12, 2023 by the Plenary Session of the Constitutional Court with nine votes in favor of the Constitutional Judges Dr. Karla Andrade Quevedo, Dr. Alejandra Cárdenas Reyes, Dr. Carmen Corral Ponce, Dr. Jhoel Escudero Soliz, Dr. Enrique Herrería Bonnet, Dr. Alí Lozada Prado; and with the concurrent vote of Dr. Teresa Nuques Martínez (presented to the General Secretariat of the constitutional body on October 25, 2023), they resolved:

• Declare the constitutionality of the “Free Trade Agreement between the government of the Republic of Ecuador and the government of the People’s Republic of China.”
• Order that the Presidency of the Republic be notified of this ruling, so that it may be made known to the National Assembly, once it has been established.

Click to read Opinion 8-23-TI/23

Click to read the full text of the “Free Trade Agreement between the government of the Republic of Ecuador and the government of the People’s Republic of China” project.

II.- New article on our blog

Can the insured recognize its liability under a civil liability policy?

An insured individual is involved in a traffic accident where he or she is deemed responsible for damage to another vehicle. The insured, recognizing his fault in the accident, together with the driver of the other vehicle reach an agreement to cover the damages without resorting to litigation. What are the legal consequences of this recognition? Would the insurer be obliged to compensate the injured third party?

Click to read the full article.

Contact information:

Abg. Miguel Ángel Saltos | Email: miguel.saltos@lince-saltos.com | Telephone: (+593 4) 2630313