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...
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