 Diario Latino declared bankruptcy and was sequestered by Banco de Crédito Popular which passed it to the Fondo de Saneamiento y Fortalecimiento Financiero (FOSAFFI), an organ created by the Banco Central de Reserva.In June 1989 its employees stopped receiving their pays, decided to organize and formed a union which took over operations, changing its name to "Diario Co Latino".Its editorial line suffered a drastic change, from right-wing to a left-wing paper, becoming the most prominent left wing newspaper.