Recently, the magazine El Mercurio Legal published a report in its year-end issue called “The 10 rulings of the Supreme Court and the Constitutional Court that marked 2016.” Academics and lawyers from different law schools in the country, and from various specialties, analyzed and selected the 10 rulings of the Supreme Court and the Constitutional Court (TC) that marked 2016.
Designated as the most important, was the ruling of the Cascada case led by Gabriel Zaliasnik, partner of AZ, representing one of the implicated.
Two years earlier, the Superintendency of Securities and Insurance (SVS) imposed one of the highest fines that have ever been applied in the stock market for violations of the laws regulating corporate governance of corporations.
By a requirement of unconstitutionality before the TC, on September 29, 2016, Gabriel succeeded in having the institution determine that the fines imposed by the SVS did not comply with the inherent requirements based on the Rule of law.
“While this ruling adds to the abundant jurisprudence of the TC in relation to the principle of proportionality, due process, equality before the law, etc., this time the TC takes a new step by claiming the rights of the citizen, who is many cases exposed to abuse by the administration. This time it is the SVS that acted with arbitrariness, but how many times other authorities do not do the same with small entrepreneurs, imposing fines or supporting minor infractions, affecting the normal development of such citizens and their enterprises?” Declared Zaliasnik (Quote obtained from Capital Magazine, Legal Capital, Friday, October 14, 2016).