Arrest Order issued For Ecopetrol President Felipe Bayón

Posted OnDecember 8, 2020

Tag: arrest, BVC: ECOPETROL, claudia patricia erazo, colombia, contempt of court, ec, ecopetrol, Felipe Bayón, Felipe Bayón Pardo, Nariño, nyse, nyseL ec, oil & gas, Pasto, petroleum, warrant

The president of Colombia’s largest company, oil giant Ecopetrol (NYSE: EC) (BVC: ECOPETROL) Felipe Bayón Pardo (above photo) is facing arrest after a judge in Pasto, the capital of Colombia’s Nariño department issued a warrant for the Colombian equivalent of contempt of court.

The warrant states that Bayón must spend five days in jail and pay compensation of 5 Colombian monthly minimum wages (approximately $1,260 USD) to former employee Claudia Patricia Erazo for violating her rights as a former employee of the company.

Ecopetrol has appealed the charges to the Superior Court of Nariño, saying that it has in fact, complied with all obligations due to Ms. Erazo, and even paid for her health care for two years after her separation with the company. Apparently, the warrant will not be exercised while the appeal is adjudicated.

Photo courtesy Ecopetrol

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Loren Moss is the founder and publisher of Finance Colombia. He has over 20 years of international business experience, including over a decade of experience in securities, insurance, and commercial real estate, at the institutional and international level.