Chilean Co. Creditors Seek Forced Bankruptcy In $7.4M Fraud

Law360, Miami (April 4, 2017, 7:44 PM EDT) -- Creditors of a group of companies linked to a Chilean fugitive that U.S. securities regulators say bilked investors out of $7.4 million requested Monday to file an involuntary bankruptcy against one of the companies' U.S. entities, arguing that the bankruptcy court is better equipped to handle the case.

Four creditors collectively owed about $500,000 asked U.S. District Judge Marcia G. Cooke for permission to file an involuntary bankruptcy petition against Onix Capital LLC. Just last week, Judge Cooke appointed a receiver for Onix Capital and seven other...
To view the full article, register now.