For Teresa Barger, Chilean billionaire álvaro
Saieh’s luxurious Fifth Avenue apartment provided
a welcome respite from the New York winter one bitterly cold
day last December.
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Barger, managing director at Cartica Capital — a
shareholder in CorpBanca, the Chilean bank Saieh controls
— says the businessman that afternoon graciously
offered her a tour of his residence, including a viewing of his
private collection of early Renaissance Italian art, much of it
dating back to the thirteenth and fourteenth centuries.
"He’s very personable, very cultured," Barger
says in an interview. She left the meeting reassured that Saieh
and CorpBanca would act in the interest of all shareholders
— including minority investor Cartica — in a
proposed M&A deal. That’s precisely what
CorpBanca, Chile’s third largest commercial
lender, says it did.
But by June, Cartica and Saieh were on opposite sides of an
increasingly acrimonious legal battle as the asset
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