Supreme Court rejects indemnity claim of AFP Provida against Leonidas Vial Echeverría
1 October, 2018
Alcaino | Abogados obtained a favorable ruling in the defense of the executive and businessman Leonidas Vial Echeverría and his investment companies, in a claim for compensation for alleged damages filed by AFP Provida in the context of the Cascadas Case, based mainly on Sanctioning Resolution No. 223 of the Chilean SEC and the alleged damages caused to pension funds.
In a ruling dated September 13, 2018 issued by the Supreme Court, the claim deduced by AFP Provida was rejected, confirming the first and second instance judgments, which ruled out the existence of infractions of the Securities Market Act and eventual damages for pension funds.
Mr. Vial’s defense was in charge of the litigation area of Alcaíno | Abogados, led by its partners Alfredo Alcaíno and Marcelo Giovanazzi.