The 7th Civil Court of Appeal confirmed Daniela Cabral’s declaration of necessary bankruptcy, which implies that she is being held accountable for running the Don Coraje agricultural establishment, which appears to take livestock from former investors of Livestock Connection.
By rejecting the appeal that she had presented, the court affirmed that she carried out a business activity of commercial livestock intermediation, using “Don Coraje Sociedad Civil” as a “corporate screen” or “social nebula” to bind herself personally.
In her appeal, Cabral had maintained that the liabilities did not exceed 35,000,000 Indexed Units (UI) and that her domicile was in Punta del Este, she did not carry out business activity and that, because she was a civil debtor, the Bankruptcy Law (No. 18,387) should not be applied to her.
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Regarding the amount, the chamber made up of ministers Cristina Cabrera, Edgardo Ettlin and Loreley Pera responded that it had already been previously estimated and that said resolution was not appealed at the time, so it became res judicata.
He also considered that the investor who requested the contest has a verified credit derived from livestock investment contracts where Cabral acted as taker of the livestock and guarantor for an investment of US$ 30,000 that was renewed repeatedly since 2011. He added that there were unpaid obligations for a period greater than three months, which complies with the legal budgets for the contest.
The ruling also stated that Daniela Cabral’s insolvency is a public and well-known fact derived from the cessation of payments.
He also confirmed the appointment of the trustee Alfredo Ciavattone, considering it appropriate due to the existence of an economic group and the patrimonial confusion detected between those involved.
Because his appeal was completely rejected, the court ordered Cabral to pay the costs of the process, that is, legal expenses.
