The lawyers behind the Swell case

The lawyers behind the Swell case

The lawyer Loreto Ried could be the expert who heads an eventual settlement of Swell Capital, the manager found in 2018 the three partners: Octavio Gamboa, Nicolás Ivisis and Juan Luis Montalva.It was on July 26 when Tanner runners of the Bolsa requested the 20th Civil Court of Santiago the Forced Liquidation Resolution of Swell, represented by Montalva and Ivisis, for not having complied with the payment of a promissory note for $ 827.260.266.

This, after Gamboa was self -damaged by making use of its customers' guarantees to pay debts from their private investment society, called Boris.Tanner, a firm chaired by Ricardo Massú, is one of Swell's leading creditors, so they hired the lawyer Francisco Bañados to assemble the strategy that allows them to recover the capital they lost (unlike other cases they were not contributors of funds, were service providers).

The first step: propose a liquidator.In any case, for this there is a road to go.Loreto Ried explains it: “When a person owes silver, there are different scenarios to get the collection.One of them is the liquidation application.In that case, the creditor proposes to a liquidator and a substitute ".Tanner nominated Ried as a starter.

There is also the scenario that Swell managessolution of its guarantees.

In that case, the three main creditors will nominate a watchman, and then it will be the Board of Creditors who finally decide whether or not to approve that agreement or not.If approved, the company must respond with the agreed.But if the agreement is rejected, the company's settlement is declared.There, the name of Loreto Ried as a liquidator could enter the scene (previously that trade was called bankruptcy trustees).

However, the firm does not give truce in its fight: on August 11, Francisco Bañados presented a new brief at the trial on Swell's forced liquidation.In the document, it establishes that the original of the promissory note was already physically guarded, signed on July 5 of this year, for the sum of $ 827 million.After this, the lawyer asked Justice to provide "rightly the request for forced liquidation".

Los abogados detrás del caso Swell

In addition to this, there is a link that unites Tanner with Gamboa: his brother -in.From there, they say that it is only a coincidence and that it is not related to the conflict.

The defense strategy that will pursue Gamboa

There are three strategies that can be carried out in cases of this type.The first is to build facts and go fighting in court;That is, Octavio Gamboa, represented by criminals Cristián Muga and Rodrigo Ávila, would confront with Sartor and his partners in Swell, whom he would accuse of negligence in the management of the funds and lack of control.That play, they explain in the square, it would be the most exhausting.

Second: argue that in fraud there was no intent, but that it was an unfair administration, without disappointing or profit by Gamboa.

A third option would be to go to the Public Ministry to count all the facts in detail, put the assets available without conditions, and then ask that the “risk exposure” factor be considered.In the words of an expert in economic crimes, "argue that the partners were people very exposed to risk, and qualified, who did not control the business administration enough".Simple, he adds: "If they had reviewed the accounting information - despite the fact that Gamboa himself has recognized that he used the accountant Michael Suárez to alter Swell's balances - they would have realized that something did not fit".

According to several sources close to the self -determination, the strategy that the Gamboa team will chase - who does not risk jail sentences - will be the latter.

Aurus, the case that Swell looks

Just Octavio Gamboa told his partners - thesis and Montalva - that he had taken customer guarantees, both began to contact lawyers, communication and crisis advisors, and people who had some kind of experience in this type of emergencies.

Among those who touched their doors that are some of the members of Aurus, the former general administrator of funds that in 2017 was the protagonist of a financial scandal after its then investment manager confessed various crimes -such as the delivery of false information to theMercado and improper appropriation-, causing damage for more $ 1.000 million.“They gave them names of crisis experts and shared their advice.

The first one: do everything to replace its customers, ”says a close to Swell.After talking with several offices dedicated to communicational crisis advice, they signed the journalist Camen Luz Assadi, a member of E-Press.She is working in the case with lawyer Rodrigo Zegers.For their part, the affected creditors are being communicated communicationally by the Corpo agency.

Sartor's legal team is reinforced

Sartor formed a multidisciplinary lawyers through which the fund manager seeks to be considered that he has no responsibility in the case.

In the first place is Gabriel Zaliasnik, who highlights sources from the firm, leads the entire criminal edge of the process and, in addition, has a role as a representative of Sartor in extrajudicial conversations that have been carried out with others involved in the case.Sebastián del Piano is added to him, who is the Advisor on the Financial Matter of the Administrator and who continues to advise them throughout this process.

It is not all, because the lawyer José Luis Honorato was hired by Sartor and leads two civil arbitrations that the Fund Administrator presented against Swell before the Center for Arbitration and Mediation of the Santiago Chamber of Commerce, which are kept under confidentiality.

The objective of arbitration is that Swell's obligation is declared, as custodian of the values of the funds administered by Sartor, to deliver these funds that he kept in custody and compensation of damages.This includes: media advice cost, lawyers, image experts, among other items.

Those affected arrive at the RRSS

“Sartor's position to denaturalize contracts, is an antecedent that affects the financial market since it damages the public faith in its entirety.I do not know if the contracts are signed...What kind of lawyer speaks in public and does not know if the contracts are signed...AMATEUR...or missing the truth ".

That is part of one of the publications that these days circulate on social networks in the Swell-Sartor case.It is written by Matías Allendes Silva, who is defined as “entrepreneur and executive with 22 years of national and international work experience with exposure to Europe, Japan, Mexico, Peru, Australia, USA, Colombia, Argentina, Brazil and China.MBA in China "."In the industry in which Sartor operates ethical codes are what make the difference," he published in another post.

"Incredible Matías, I was also invested in both funds ... When they offered me to enter, one of the main factors that I took into account was that I had already made previous investments through Sartor and I had a good experience, but now it has been a disaster...”, Replies Fernando Casanova, partner in Capital Office.