The Limited Times

Now you can see non-English news...

After the flag, Alberto Fernández shelves the project of expropriation of Vicentin

2020-06-22T17:38:15.319Z


The President decided after meeting with the Financial Controller Gabriel Delgado in Olivos. Now he is betting on the plan of the Santa Fe governor Omar Perotti for the cereal company.


Pablo Ibáñez

06/21/2020 - 19:23

  • Clarín.com
  • Politics

Alberto Fernández slept the expropriation project and anchored the fate of Vicentin and his 2,638 creditors to the "intervention" plan that the governor of Santa Fe, the Peronist Omar Perotti, chiselled in the midst of a political crisis.

The Perotti model seeks, with another format and other times, the same as Fernández's first move: to rescue the company, avoid its scrapping and take away the control of the current owners who, coinciding in Olivos and Santa Fe, are responsible for the collapse of the firm.

The president emerges, through the shortcut Perotti built, from a trap: he files the expropriation, which Fernández always considered unfriendly and a last resort, and bets on intervention.

To reinforce that line, the president received this Sunday at noon, in Olivos, Gabriel Delgado, the inspector appointed by the Government  that the judge reduced to "veedor" but that the IGJ of Santa Fe proposes at the head of the intervention, the time adding a chair for a provincial delegate.

Delgado, through friends, gave a clue: he spoke of alternatives, avoided the word expropriation, and pointed out that the purpose is "to preserve producers and job sources."

With Saturday's flag as uncomfortable background music, the Perotti plan must still overcome an important stumbling block: the proposal for "bankruptcy intervention" -without expropriation-, which it presented through the General Inspectorate of Justice (IGJ) of Santa Fe, It must be accepted by the bankruptcy judge Fabián Lorenzini.

The indications are diffuse. On Friday, in a controversial ruling, Lorenzini rejected the intervention ordered through a presidential DNU and returned control of the firm to the family.

There is a microhistory behind: 48 hours before, there were consultations between Santa Fe officials with the magistrate, on Thursday the IGJ accelerated his request for intervention and when he was going to present it, on Friday, he was surprised with the judge's resolution.

"When he knew that the presentation of the province was coming, he hastened his decision," a Santa Fe source involved in the fine detail of the Vicentin case told Clarín . "It was a gesture in favor of the owners," he added.

On Saturday, on El Destape radio, Fernández maintained that Lorenzini failed "due to the microclimate of the area" rather than "to the right".

Perotti understands that, due to the urgency, the judge cannot delay his decision and he prepares himself, even, for a possible setback, to the point that he calculates having to follow the judicial investigation in the higher instance if necessary. 

Another item appears :. Fernández said that the expropriation project, which he put on standby last week as Clarín told last Thursday, will return to the scene if the Perotti plan fails.

In Santa Fe they understand that it will be a determining factor. "If the judge rejects the IGJ intervention, he will be responsible for the return of the Expropriation project," they say in the province.

It is a puzzle of interests. In Government they believe that the judge ruled not only as a gesture to the Vicentin-Nardelli clan but also to avoid being a target in the protest on Saturday.

The actors were taken by surprise, because the intervention via IGJ was probed with companies, cooperatives, and creditors who view it favorably, at least as an option to expropriation.

In the background, there is another problem: the criminal question that weighs on the owners, the investigation initiated by foreign banks for alleged laundering and the investigation into triangulation based on a network of "mirror" subsidiaries abroad.

The question is there: what will happen in judicial terms with the owners who broke the firm and then asked for help from the State. There seems to be, in that line, empathy between Fernández and Perotti on the responsibility, and not only business, of the Vicentin-Nardelli. 

Source: clarin

All news articles on 2020-06-22

You may like

Trends 24h

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.