Funds seized for Chilean fruit exporter Aconex
A court in the Chilean capital of Santiago has ordered a bank account seizure for two executives from fruit business Exportadora Aconcagua (Aconex), due to family conflicts that threaten the financial stability of the company, reported newspaper La Segunda.
The 20th Civil Court of Santiago made the ruling based on a dispute between president Fernando Barros Freire and his son and general manager Alejandro Barros Aldunate, including an US$8 million lawsuit last January, the story reported.
According to the company's website, it exports five million cases of fruit annually including table grapes, stone fruit, cherries, citrus, persimmons, kiwifruit and apples.
The breakdown between father and son was over a dispute over ownership, where those close to Fernando alleged Alejandro had 'snatched' the company from him, with differences as well over business management and international trade, the story reported.
The story reported there have been no bankruptcy applications but the company has a variety of debts with different banks.