Pablo Carrasco, a partner in Conexión Ganadera, is facing financial trouble. A court has declared him bankrupt due to unpaid rent on fields leased for Hernandarias XIII.
The decision was made after lawyers for three landlords took Carrasco to court. The bankruptcy declaration applies to Carrasco personally, not his company, because he took on the debt obligations himself.
Debt and Insolvency
Carrasco had previously been embargoed for $250 million. However, when the bankruptcy request was made, he didn’t offer to pay off the debt using his own assets. He could have asked to partially lift the embargo to do so.
The court found that Carrasco’s actions showed he couldn’t pay his debts in the short term. This demonstrated his insolvency, making the bankruptcy declaration valid.
Court’s Decision
The court noted that Carrasco didn’t dispute the debt. Instead, he raised formal defenses against the bankruptcy request. His inability to pay, combined with his lack of action to address the debt, led to the court’s decision.
