Lifting the lid on Tocumen Internarional concessions

TUESDAY October 14 is show and tell day for companies granted concessions at Tocumen International Airport during the Martinelli administration.

On October 8 the airport administration issued a circular required terminal concessionaires to provide an affidavit detailing the names of the beneficial owners of the companies.
he move was sparked by irregularities in the granting of concessions.
The affidavit has to show that shareholders and partners are legal persons, and “extends down to the names and true names of individuals owning shares or shares of the company that currently owns a concession atthe International Airport Tocumen, SA, “says the document.
The deadline for submitting information was no later than five working days from the notification of the circular. This means that dealers have until Tuesday October 14 to provide the information, reports La Prensa.
Tocumen SA based its request on the Law No. 32 of 5 April 2011 concerning the free zones, and applies in the commercial area of the terminal. Delivery of certificates of shareholders and business partners are required.
The circular also refers to the resolution No. 006 of 12 March 2014, which stipulates that all dealers should inform airport changes in legal representation and board.
The petition of Tocumen SA comes after internal audits detected concessions granted by the direct route. These processes generated millionaire business for companies and ridiculousrevenue for the terminal; all conceived in the last board of Tocumen SA, led by former Minister Frank De Lima.
In the affidavit the moral and financial solvency of the companies that have signed the concession contract will be known. Vertikal Corporation is an example of the unknown that can be shareholders.
At the end of the Martinelli administration, the company was able, by direct route, a concession of use of sea bottom that allows it to supply fuel for 20 years at the airport.
The agent is Lucas De Leon, a stranger to the logistics industry promising a $35 million venture.
La Prensa proved that De Leon was at that time an employee of the group Btesh & Virzi, owned by Gabriel Btesh and Felipe Pipo Virzi, part of the circle of power of former President Ricardo Martinelli.