The SIC ordered three companies to refund the money from real estate assets not delivered to consumers

By ruling of September 16, 2021, the Deputy Superintendence for Jurisdictional Affairs of the Superintendence of Industry and Commerce (SIC) of Colombia resolved the lawsuit against SETEYCO, INVERSIONES CAFI and ACCIÓN SOCIEDAD FIDUCIARIA, after it was demonstrated that those companies did not deliver the promised real estate to the consumers, nor did they deliver the signature of the property deed within 5 years, thus violating the consumer protection regimen regarding legal guarantees, information and contractual protection.

On the other hand, it was argued that the fiduciary, as spokesperson for the autonomous assets, participated in the business carried out with consumers and acquired a series of obligations with them, which is why it can be considered as provider and responsible party in this case. In the ruling, the defendants were ordered to return the money paid by the consumers.