Mrs. Solange Berstein Jáuregui, President
ESSENTIAL FACT
COMPANIES LA POLAR S.A.
REGISTRATION NUMBER IN THE SECURITIES REGISTRY: 806
Santiago, November 17, 2022
Financial Market Commission
Av. Libertador Bernardo O’Higgins N° 1449
Santiago.-
From our consideration:
On behalf of Empresas La Polar S.A. (hereinafter, the “Company”), by virtue of the provisions of Article 9 and the second paragraph of Article 10 of Law No. 18,045, and numeral 2.2 of Section II of General Standard No. 30 of the Commission for the Financial Market, I come to supplement the Essential Fact sent on October 27, 2022 and inform the following in relation to what was requested by the Commission for the Financial Market (CMF) in Ordinary Official Letter No. 86425 dated November 16, 2022:
1.
In relation to the request made in the aforementioned letter by the CMF to refer to the veracity of what was reported in the press article published on 12 of this in the Diario Financiero, we can point out:
to.
That it was only authorized by the 13th Civil Court of Santiago, in case C-15.102-2011, the seizure of the offices, warehouses, parking lots and movable property of the Santa Clara 207 Building, Huechuraba commune, trademarks and some current accounts, leaving Empresas La Polar S.A. as provisional depositary.
The seizure was notified to the Real Estate Conservator of Santiago where the aforementioned building is registered. The seizure of the furniture of the Building has not materialized since there was opposition to it because there are pending procedures. The trademark embargo was notified to INAPL, which is conducting background checks. The seizure of current accounts was notified to the respective banks with the results indicated in the press article.
It is necessary to indicate that these attachments are in the process of appeal in the Court of Appeals of Santiago, both for matters of funds and procedural. The property is mortgaged in favor of Banco Consorcio.
It is also important to note that at no time has its auction or liquidation been ordered as could be interpreted from the journalistic note.
With regard to the press article published in the newspaper La Segunda on 15 hereof entitled “With scolding to their lawyers, Court authorizes seizure of La Polar”, in which the following was reported:
i. That the Court of Appeals of Santiago would have dismissed an order not to innovate requested by the lawyers of La Polar, who in this way tried to prevent the seizure of assets for compensation in favor of AFP Capital for $ 22,038 million.
ii. That, as indicated by the Court, even if the grounds for challenge quantified by La Polar were pertinent, the amount owed would be $15.446 billion.”
We must communicate that the information published by this means of press is not truthful, since to date, before the Iltma. The Court of Appeals of Santiago has not been resolved, nor have the appeals or the order not to innovate that the Company has filed to object to the decision of the 13th Civil Court of Santiago during the process of incidental compliance with the judgment, nor has the amount of the liquidation been definitively established by the same Court of first instance.
We understand that the information published, to which we refer at this point, was obtained from a simple brief presented by the plaintiff’s lawyer, and we insist, from any resolution of the Iltma, Court of Appeals of Santiago.
3. As we pointed out in the Essential Fact dated October 27, the Company has filed various legal appeals against the enforcement procedure and the liquidation of the credit, which are currently being processed both in the court of first instance and before the Court of Appeals of Santiago, and she hopes confidently that the justice of her cause will eventually prevail.
4. Given that the final amounts to be compensated and their origin are under discussion at this stage of compliance with the judgment, it is not possible at this time to quantify them or inform the market. Therefore, the effects or impacts of the aforementioned embargoes on the financial situation of the company are under constant review and so far have not significantly affected the normal development of its business.
5. The Company will be dedicated to finding the best possible solution to safeguard the interests of its employees, customers, suppliers and its shareholders.
Without further ado, greets you sincerely,
Manuel Vial Claro
Vice Chairman of the Board
Empresas La Polar S.A.
Link to file in CMFChile: https://www.cmfchile.cl/sitio/aplic/serdoc/ver_sgd.php?s567=662afe82ca3a36d39eae960458cdd308VFdwQmVVMXFSWGhOUkZGNlQwUlZORTFSUFQwPQ==&secuencia=-1&t=1682376108
