An investor of Capital Portfolio attacked this Tuesday Alejandro Berrutti —owner of the livestock fund that stopped paying and has debts close to US$ 20 million— before starting a meeting of creditors.
As he knew The Observerhe investor hit and threw Berrutti to the ground before the meeting began, planned by the companies that operated under the name of Portfolio Ganadero or Portfolio Capital: Oro Rojo and Reina Vaca.
Without saying a word, the investor approached Berrutti and attacked him. Furthermore, he warned him: “Every time I see you, I’m going to give it to you. You can’t hold your gaze“.
The person left the room before two police officers arrived to try to identify him.
While the attack occurred, lawyers who would participate in the meeting were entering, but finally it was decided to suspend it because “the conditions are not met.” The new date was set for May 20.
Berrutti was locked in a room guarded by police, it was decided to call an ambulance to examine him and everyone present was asked to leave.
The Meeting of Creditors of Reina Vaca and Oro Rojo SA
Berrutti’s lawyers had presented a new agreement proposal to the creditors in which they requested that the meeting of creditors of Reina Vaca SA and Oro Rojo SA, scheduled for this Tuesday at 2 and 3 p.m., be suspended, with the aim of putting the offer into consideration.
The proposal, to which El Observador agreed, consists of the creation of a trust that unifies Reina Vaca and Oro Rojo, with the proposal to pay creditors 50% of the unsecured credits verified and judicially approved in each file, in dollars, in up to 18 semi-annual installments, the first beginning 6 months from the date on which the agreement is signed.
The trust will be integrated with the assets of both companies as well as with the profits of Rey Toro SA, another Berrutti firm, transferred to the guarantee trust by its shareholders Berrutti and Argenti, the net proceeds from the sale of the properties owned by Rey Toro; the proceeds from the sale of the La Tarambana property and the remainder of the Berrutti and Argenti SA bankruptcy, after full payment of the verified credits, transferred to the trust by Berrutti and Argenti as the only shareholders.
With all this, the aim is to reach a net worth of US$ 14.7 million.
According to the document’s estimates, given that the total liabilities of Reina Vaca and Oro Rojo amount to US$22 million and considering that it is proposed to pay 50% of the liabilities with that equity, US$11 million is covered.
The text of the agreement details that the semiannual installments may not exceed US$ 150 thousand. “If, upon cancellation of installment 18, all 50% of the verified unsecured and subordinated credits have not been paid, the trust will continue to pay semiannual installments until total cancellation, with additional contributions from Rey Toro SA’s profits,” he proposes.
