Judicial Judgement Confirms that the CAE's Debt Does Not Prescribe and Ratifies the Legal Action of the TGR

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The Court of Appeal of Concepción rejected an appeal for protection filed against the General Treasury of the Republic (TGR), regarding a recovery of the Credit with State guarantee (CAE). In the judgment, it was established that the TGR is not in any illegality in its recovery process, and that . Failure ratifies ... Continue reading "Judiciary failure confirms that the CAE debt does not prescribe and ratifies act legal of the TGR" The post Jud…

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The Court of Appeal of Concepción rejected the appeal of a debtor of the CAE and established that the prescription of the bank promissory note does not extinguish the tax debt assumed by the State after giving effect to the guarantee.

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As a relevant precedent that marks a clear path and gives legal certainty about public financing, the Court of Appeal of Concepción categorically confirmed that, the debts of the Credit with State Aval (CAE) in force with the Fisco, do not prescribe or are cancelled when the bank promissory note expires. The court rejected a protection appeal filed by a debtor, ruling that the prescription of the original bank promissory note does not extinguish…