Frozen bank accounts put Odebrecht staff in limbo

ODEBRECHT staff in Colombia are in financial limbo following the freezing  of five bank accounts linked to the Brazilian construction company.

Currently, the company has 73 employees on the payroll whose wages cannot be withdrawn from the banks,reports, Colombian newspaper   El Tiempo.

“The 73 executives that Odebrecht has in Colombia are stranded in the country,” the report said.

The financial situation of Odebrecht’s subsidiaries in Colombia is exacerbated by the fact that, according to the newspaper, over the next three days, a loan obtained from  Banco Agrario de Colombia for $40 million is due.

The problem is that Odebrecht’s subsidiaries do not have any assets in their names, so the collection of the debt will be complex.

The bank is a dependency of the Ministry of Agriculture and Rural Development, so technically the $40 million loan is from the state.

A month ago, the Attorney General of Colombia