We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Chilean Co. Receiver Fights Forced Bankruptcy In $7.4M Fraud

Law360, Miami (April 18, 2017, 12:17 PM EDT) -- A court-appointed receiver for companies linked to a Chilean fugitive that U.S. securities regulators say bilked investors out of $7.4 million urged a Florida federal judge Monday to reject creditors' request to file an involuntary bankruptcy, arguing that a receivership is preferable to creditors and investors.

Melanie Damian of Damian & Valori LLP, who was appointed receiver last month of Onix Capital LLC and seven other companies owned by fugitive Alberto Chang-Rajii, said a bankruptcy would be more costly and less efficient than a receivership and...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.