Edesur fined RD$1.91 million by Supreme Court for withholding financial data

The Supreme Court of Justice (SCJ) has upheld a fine of RD$1.91 million against the Empresa Distribuidora de Electricidad del Sur (Edesur). The ruling follows the company's failure to provide minority shareholders with requested financial information regarding operations conducted between 2001 and 2020.

The First Chamber of the SCJ rejected an appeal from Edesur, maintaining a previous sentence that ordered the company to account for its activities. The court clarified that Edesur's obligation extended beyond dividend payments to include a full accounting of operations, encompassing financial documentation and assembly minutes from various years between 2005 and 2020.

While Edesur argued that no distributable profits existed due to accumulated losses, the court determined this did not justify the failure to provide the requested financial statements and documentation to the shareholders.