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certificates (TDCs) in Colombian pesos, instead of dollars, in favor of the minors
indicated in the judgment on reparations, because the interest rate on dollars was
lower.
16.
Note CDH/10,319-643 of January 20, 1999, in which the President, so
authorized by the Court, advised the State “that the Court ha[d] authorized that an
investment in term deposit certificates in Colombian pesos [could] be made in favor
of the minors, provided this investment [were] the most favorable for the minors.”
The Court also requested the State, “when carrying out this measure, to take all
necessary measures to ensure that, in the future, the interests of the minors w[ould]
not be affected by inflation.”
17.
The brief of February 8, 1999, in which the Commission presented its
comments on the communication of the State (supra fifteenth having seen
paragraph) and on the Court’s authorization to invest in TDCs in Colombian pesos
(supra sixteenth having seen paragraph). In this respect, it stated that this “would
subject the investment to the high rates of devaluation that affect[ed] the Colombian
economy” and requested the Court to reconsider its authorization. The Commission
also proposed that an investment should be made in term deposit certificates in
dollars in the “Banco Cafetero.”
18.
Note CDH/10,319-648 of February 16, 1999, in which the Secretariat, on the
instructions of the President, requested the State to forward its comments on the
possibility of making an investment in TDCs in United States dollars in the Banco
Cafetero in favor of the minors, Iván Andrés Caballero Parra and Ingrid Carolina
Caballero Martínez.
19.
The brief of March 31, 1999, in which the State referred to the Commission’s
proposal (supra seventeenth having seen paragraph). In this respect, it indicated
that it agreed to make an investment in TDCs in United States dollars in Bancafe
because it was more advantageous for the minors, Iván Andrés Caballero Parra and
Ingrid Carolina Caballero Martínez. It also stated that the interest on the trust fund
had been forwarded to the accounts of the representatives of the minors every
month.
20.
The note of the President of June 4, 1999, in which, so authorized by the
whole Court, he requested the State to present an updated report by July 30, 1999,
on the payment owing to the minors, Iván Andrés Caballero Parra and Ingrid
Carolina Caballero Martínez; about the payment owing to the next of kin of María del
Carmen Santana; about finding the remains of the victims and delivering them to
their next of kin, and about the obligation to continue judicial proceedings in relation
to the disappearance and alleged death of the victims in the case and to punish
those responsible.
21.
The report of the State of July 30, 1999, and its attachment, in which it
indicated that, when the trust fund set up in favor of the minors, Iván Andrés
Caballero Parra and Ingrid Carolina Caballero Martínez, was terminated, which
should be on October 27, 1999, an investment would be made in TDCs in United
States dollars in the Banco Cafetero in Miami. It also stated that it had not been
able to obtain detailed information on the identity of María del Carmen Santana and
had not been able to trace her next of kin. In this respect, it indicated that it had
ordered publication of a “summons” in newspapers with wide national circulation.
Regarding setting up a trust fund in favor of the next of kin of Ms. Santana, it stated
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