The Colombian-Venezuelan company faces extreme surveillance by Supersociedades, which seeks to guarantee its financial viability.
In the midst of a solvency crisis that threatens its stability, Monómeros Colombo Venezolanos faces a new setback: the courts denied it the protection action with which it attempted to stop the intervention of the Colombian Superintendency of Companies.
The company, which is key to the country's supply of fertilizers, argued that the supervisory body's decision violated its rights, but the court ruling made it clear that the Superintendency of Companies acted within its powers.
Beyond the legal process, the decision confirms the delicate financial situation of Monómeros and the decisive role that Supersociedades will play in its future.
Under the reorganization process, the company will have restrictions on its operations and will have to negotiate its recovery with creditors, in an attempt to avoid bankruptcy and ensure its continuity.
The company's central problem is its default on payments, a clear indicator of a financial crisis. Given this scenario, the Superintendency decided to call Monómeros into a business reorganization process, a mechanism designed to preserve viable companies with liquidity problems, allowing them to restructure their debts and maintain their operations.
Under this scheme:
- Monómeros may not constitute guarantees or carry out operations outside its ordinary activity without express authorization from the Superintendency.
- You must submit detailed and up-to-date financial information to assess your current status.
- It will be required to negotiate an agreement with its creditors, which includes measures to improve its operational, administrative and financial management.
According to Superintendent Billy Escobar Pérez, the process is not a punishment, but rather an opportunity for the preservation and recovery of Monómeros. From his perspective, a key company for Colombian agriculture cannot collapse due to administrative or financial problems.
THE CONTEXT THAT LED MONOMEROS TO THIS CRISIS
The case of Monómeros cannot be understood without considering its complex recent history. The company, controlled by Pequiven (a subsidiary of the Venezuelan oil company PDVSA), has been a strategic asset for Colombia, supplying more than 80% of the fertilizers used in the country.
However, it has gone through years of instability, marked by:
- Political disputes between Colombia and Venezuela, which have affected their governability.
- Privatization attempts rejected by the Colombian government.
- High levels of debt and cash flow problems.
Last November, Gustavo Petro's government removed its representatives from the board of directors of Monómeros, in a gesture that rejected any attempt to sell the company.
The decision was based on the president's position that its privatization could affect Colombia's food sovereignty.
- In mid-December, the Superintendency of Companies strengthened its control over the company, subjecting it to the highest degree of supervision.
This level of surveillance, although it does not imply taking over the company, does give the Superintendency the power to:
- Review all your operations in detail.
- Authorize or deny strategic transactions.
- Intervene if its viability is considered to be at risk.
In 2024, Monómeros reported a 22% growth in sales of fertilizers and industrial products, reaching 548,680 metric tons. In addition, it invested more than $16 billion (US$ 3.8 million) in technological upgrades.
However, these results have not been enough to dispel doubts about its stability.
Meanwhile, Colombian farmers, Monómeros' main customers, remain vigilant.
A collapse of the company would directly affect food production in Colombia, which could lead to higher costs for the agricultural sector and, ultimately, higher prices for basic products.
