Court prohibits VariLog shareholder from leaving Brazil

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Lap Wai Chan, manager of the Matlin Patterson Fund, which is the majority shareholder of VarigLog, would be prohibited from leaving the country if he were in Brazil (he lives in New York). He was also fined US$ million and was scheduled to appear before judge José Paulo Magano, of the th Civil Court of São Paulo, this Thursday afternoon (/). The Federal Police were notified of the decision on Wednesday (/) to arrange for the seizure of the executive's passport. The information is from the newspaper O Estado de S.Paulo . The decision is part of the dispute between Volo Logistics, a company formed in Brazil by the Matlin Patterson Fund with Brazilian partners Marco Antônio Audi.

Marcos Michel Haftel and Luiz Eduardo Gallo to control VarigLog, a cargo transportation company from the former Varig, acquired in society by both groups. VoLo, owner of all the capital invested in Phone Number List VarigLog, accuses the Brazilian partners of having diverted the company's money to an account in Switzerland. Matlin had requested the transfer of this same money, according to the judge, from VarigLog's account in Switzerland to Volo Logistics' account at JP Morgan Private Bank. The request to prevent the businessman from leaving Brazil was made by Luiz Gaj and Alfredo Luis Kugelmas, the judicial administrators of VarigLog who attached a document.



to the case file that would prove Lap Chan's order to transfer US$ million from the Swiss account to the Volo Logistics account. The money comes from the sale of the new Varig and should be repatriated and applied to the recovery of the airline.which is only removed if the exclusive fault of the cardholder is proven, which actually did not happen ”. The rapporteur highlighted that the two-day delay in reporting the robbery does not exclude the bank's responsibility, as the account holder could not be required to report the fact as soon as it was found by the police. His health condition was poor.