FRONT TRUST
INVESTMENT MANAGEMENT
ESSENTIAL FACT
Frontal Trust Administradora General de Fondos S.A.
Santiago, March 2, 2023
Gentlemen
Financial Market Commission
Present
Ref.: Informs as an essential fact dictation of judgment of Court
Supreme Court in case Roll No. 1085-2022 relating to Eco-Egaña Project.
From our consideration:
By means of the present, and in compliance with the provisions of article 18 of Law N2 20,712,
Articles 9 and 10, second paragraph, of Law N2 18,045, and Section Il of General Rule N2 30
of the Financial Market Commission, in my capacity as Chief Executive Officer of Frontal Trust
Administradora General de Fondos S.A., administradora de “Fondo de Inversión Retorno Preferente
Fundamenta Plaza Egaña” (hereinafter, the “Fund”), I communicate to you as an essential fact the
next:
In relation to the real estate project called “Eco-Egaña” or “Egaña-Sustainable Community”
(hereinafter, the “Project”), developed by the company Plaza Egaña SpA and managed by Inmobiliaria
Based on the fact that the Fund invests its resources, we inform that, on March 1, 2023, the
The Supreme Court issued a ruling in favor of the Bill, accepting the appeal in cassation in
the form filed by Plaza Egaña SpA, and rejecting the appeal on the merits presented by
the complainants against the Project.
As for the appeal in cassation in the form filed by the company developing the
Project, the Supreme Court points out that the judgment appealed by the 2″ Environmental Court contains
contradictory and inconsistent considerations. The foregoing by virtue of the fact that, on the one hand, it declares
inadmissible the complaint filed against the Project, and on the other hand, it maintains that the arguments of
That complaint allows the action to be upheld in part. In this regard, the Supreme Court confirmed
that refraction and the shadow effect (lack of luminosity) would not be aspects that should be evaluated
within the Environmental Impact Assessment System (hereinafter, the “SEIA”).
With respect to the appeal in cassation on the merits filed by the claimants, the Court argues
its rejection in the absence of factual background that would justify defects in relation to an amendment
substantial of the Project during the environmental assessment without opening a new stage of participation
citizen. It also states that the population density factor used in the Project is correct.
in accordance with current regulations, complying with the Project with the requirement to consider the scenario
more unfavorable.
tf. +562 24369000 w. frontaltrust.cl d. Av. Presidente Riesco 5561, Of. 1601, Las Condes.
FRONT TRUST
INVESTMENT MANAGEMENT
In this way, the Supreme Court annuls the resolution issued by the 2? Environmental Court
of Santiago on November 25, 2021 that partially annulled the Qualification Resolution
Environmental Project (hereinafter, the “RCA”), maintaining firm said environmental authorization, which
qualifies favorably the Project, allowing, therefore, the resumption of the works destined to its
execution.
Finally, this Administrator, together with Inmobiliaria Fundamenta, is evaluating
alternatives to the damages and damages caused by the paralysis of the works of the Project,
not ruling out possible judicial or administrative actions against third parties.
Finally, it should be pointed out that, with this pronouncement, all instances have already been exhausted.
administrative and judicial possible to question the legality of the RCA of the Project, granting certainty
real legal with respect to the materialization and concretion of the same.
Yours sincerely yours,
1
or ¡(ba
– Carmen Vicuña Vergara
General Manager
Frontal Trust Administradora General de Fondos S.A.
| | | TF. +562 24369000 w. frontaltrust.cl d. Av. Presidente Riesco 5561, Of. 1601, Las Condes.
Link to file in CMFChile: https://www.cmfchile.cl/sitio/aplic/serdoc/ver_sgd.php?s567=cc92501959c07d69ad8a286a43a9b1ddVFdwQmVVMTZRWHBOUkVFMVRXcEpNazFCUFQwPQ==&secuencia=-1&t=1682376108
