CAME case: shareholders will define their future

In the midst of the authorities' complete silence regarding the situation of the popular financial company ( Sofipo ) Consejo de Asistencia al Microemprendedor ( CAME ), the entity's management has called its extraordinary general shareholders' meeting to determine the entity's future.

For several days now, the Ministry of Economy's website has posted a call for the extraordinary general meeting of CAME. The meeting will discuss the company's financial status and determine its future, as dictated by the Popular Savings and Credit Law (LACP), the regulatory framework for Sofipos.

"The shareholders of the Company are hereby summoned to the Extraordinary General Shareholders' Meeting," reads the document signed by Alejandro Torres Hernández, Commissioner of the Board of Directors of Sofipo.

According to the document, the meeting will be held at 8:00 a.m. on June 17, at the address located at Atanasio G. Sarabia, number 1565, Héroes de Churubusco neighborhood in the Iztapalapa Municipality, Mexico City.

The future of CAME

CAME's problems became evident last April, when it closed its branches, stopped operating its app, and migrated its headquarters, leaving 1.3 million customers in uncertainty due to a lack of response from the bank or the authorities.

Given this situation, according to the LACP, the Sofipo must call an extraordinary general meeting of members to inform them of the current situation and proceed to appoint the individuals who will be responsible for the entity's administration.

Thus, the meeting will propose discussion of the report, approval of the removal of the entity's general director and its Board of Directors, and the appointment of new directors.

In addition, matters pertaining to Articles 75, 90, 92, and 96 of the LACP will be discussed, including the choice of implementation paths to follow, such as spin-off, merger, sale, dissolution and liquidation (with a view to bankruptcy) or others that contribute to reducing the risk of insolvency or bankruptcy of the entity.

According to regulations, any decision to pursue any of the paths will be based on a technical study conducted by an external auditor and approved by the Fund for the Protection of Sofipos ( Prosofipo ). The call for proposals mentions that the firm Álvarez & Marsal would be proposed for this analysis.

Since CAME's capitalization level, which it presented in December 2024, was reclassified from 102% to -3.953%, placing it in category 4 of the early warning level, Prosofipo began taking the actions required by law.

If the entity is dissolved and liquidated, savers would be compensated up to 25,000 UDIs (approximately 211,000 pesos); if they have more money in the entity, they would be part of the liquidation of the company to seek to recover the remainder of their savings.