Chile: ACONEX liquidator recovers US$30M from asset sales - FreshFruitPortal.com

Chile: ACONEX liquidator recovers US$30M from asset sales

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Chile: ACONEX liquidator recovers US$30M from asset sales

The administrators of bankrupt Chilean fruit company Aconcagua Limitada (Aconex) have sold off more than CLP14 billion (US$30 million) of its assets, newspaper Diario Estrategia reported.

Liquidation trustee Patricio Jamarne told the newspaper there were 400 people at the auction for Aconex's assets, while the largest sale of the day was a CLP4.6 billion (US$9.85 million) Santiago warehouse to office equipment distributor Prisa.

Mining company Minera Atacama paid CLP1.15 billion (US$2.46 million) for Aconex's Los Maitenes farm, while real estate business Los Alerces bought the company's El Milagro farm for CLP1.33 billion (US$2.85 million).

"There was a very good start and at market prices which were within our estimates, so we're quite happy although there were a few things," Jamarne was quoted as saying.

He told the newspaper of plans for a second auction as quickly as possible, as Aconex's total debt before administration was CLP27 billion (US$57.86 million).

"It is my intention to spend as little as possible on the maintenance of the goods to be able to distribute the highest amount of money to the creditors," he was quoted as saying.

Related story: Chilean fruit company declared bankrupt

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