#CuraumaCase / The Curauma Case

Curauma is a large-scale urban development project located in Valparaíso, Chile, spanning thousands of hectares. Envisioned as a modern residential and commercial hub, it represented a significant real estate venture with vast potential (Our Story). However, the Curauma Case unveils how this thriving enterprise was derailed by an orchestrated illegal bankruptcy. Key players, including Chilean EuroAmerica Seguros de Vida, led by Henry Comber, allegedly manipulated legal and financial systems to seize control of the project's valuable assets. Notably, Henry Comber and EuroAmerica are also implicated in the 2024 Enjoy collusion case, where major casino operators in Chile allegedly conspired to limit competition during license renewals, further highlighting a pattern of unethical corporate behavior. This combination of cases underscores the broader scope of alleged misconduct involving the same actors across different industries.

The Curauma Case

Chile, 2024 - The #CuraumaCase reveals how Curauma S.A. was illegally forced into bankruptcy, enabling EuroAmerica Life Insurance Company, led by Henry Comber and Nicholas Davis, to seize a collateral asset valued at over $500 million USD.

In 2013, attorney Julio Bustamante Jeraldo, a former director of Curauma S.A., filed for bankruptcy in Santiago, even though the company’s legal domicile was in Valparaíso. This action, contrary to applicable regulations, was based on an alleged debt of only $80,000 USD, which was never supported by documentary evidence or tax records. The filing violated the Securities Act, the Corporations Act, and the regulations of the Superintendency of Securities and Insurance (now the Financial Market Commission, CMF). The debt was evidently fabricated to seize the collateral asset.

The appointed trustee, César Millán Nicolet, acted in favor of EuroAmerica's interests by managing the process in a suspicious manner. Millán has been accused of maintaining improper relationships with EuroAmerica's controllers, further reinforcing suspicions that the bankruptcy was staged to execute a financial operation with interest rates exceeding the Maximum Conventional Rate. Additionally, the algorithm for judicial case assignments was manipulated to ensure the bankruptcy was handled in Santiago courts, providing a favorable environment for the involved parties.

Henry Comber and Nicholas Davis, as leaders of EuroAmerica, orchestrated the strategy to take over Curauma’s assets through usurious interest rates and illegal judicial maneuvers. Julio Bustamante, who filed the bankruptcy petition, played a key role by acting under irregular conditions. Meanwhile, trustee César Millán facilitated the fraudulent transfer of assets to EuroAmerica.

Although the assets of Curauma S.A. were valued at over $500 million USD, the company was bankrupted using a minor, clearly fabricated debt. This allowed EuroAmerica Life Insurance to claim the collateral through a process that disregarded competition rules, transparency, and ethics.

Since 2013, numerous legal actions have been filed to reverse this illegal appropriation and recover what was taken. These lawsuits aim to nullify the irregular rulings, hold those responsible accountable, and restore justice in favor of Curauma S.A. and its rightful owners.

#CuraumaCase