HispanicBusiness

- The Bermuda Court's ruling clearing Avicola Villalobos of allegations of fraud and money laundering stands uncontested

- As a result of Court's rejection of allegations of fraud and money laundering, Lisa, S.A. must compensate Avicola Villalobos for as much as $2.6 million in litigation costs

- Lisa, S.A. appealed then withdrew its appeal of the ruling in favor of Avicola Villalobos

- Bermuda Judge chastised Lisa's smear campaign

- Affiliate of Avicola Villalobos puts Lisa on notice to have Lisa lawfully expelled as shareholders

- Bermuda litigation had absolutely no relation to Pollo Campero, Corporacion Multi-Inversiones or Co-Presidents Juan Luis Bosch and Dionisio Gutierrez Mayorga

Editor's note: If you are following this on-going legal and intra-family matter between Guatemalan-based Avicola Villalobos and Lisa, S.A., a corporation owned by Guatemalan nationals living in Canada, or have received information from Lisa, S.A., its legal counsel or public relations consultant, please know James Meyer, outside general counsel for Avicola Villalobos, is available to discuss the matter and correct any inaccurate information you may have received as a misinformation campaign continues to be waged against various individuals and companies related to Avicola Villalobos.

GUATEMALA CITY, Guatemala, Nov. 28 /PRNewswire-HISPANIC PR WIRE/ -- After ruling that Avicola Villalobos is not liable to Lisa, S.A. for any claims presented in a Commercial Court (Civil Jurisdiction) in Bermuda, the same Court has ruled that Lisa, S.A. must compensate Avicola Villalobos for as much as US$2.6 million in litigation costs and issues a Mareva injunction against Lisa, S.A. for US$1.0 million.

The Court's ruling came days before Lisa, S.A.'s withdrawal of an appeal of the original ruling in favor of Avicola Villalobos. The Bermuda Court's ruling clearing Avicola Villalobos of allegations of fraud and money laundering stands uncontested.

Furthermore, during the hearing of arguments for litigation costs, Judge Ian Kawaley stated that Lisa, S.A.'s constant promotion of the Bermuda trial in a sponsored media outlet "with a view to creating undue pressure or unfair pressure to get a favourable settlement" was tantamount to "some sort of contempt of court."

Due to ongoing campaign of misinformation and inappropriate actions, Alimentos Para Animales, S.A., an affiliate of Avicola Villalobos, has put Lisa, S.A. on notice to have Lisa lawfully expelled as a shareholder for which it will be compensated.

Contrary to claims in media statements by Lisa, S.A., the Bermuda trial had no relation to Pollo Campero, Corporacion Multi-Inversiones or
Co-Presidents Juan Luis Bosch and Dionisio Gutierrez Mayorga. Lisa, S.A. has repeatedly attempted to tie the Bermuda proceedings to Pollo Campero in a disingenuous effort to gain notoriety for its litigation campaign when, in fact, Avicola Villalobos, S.A is not the owner of Pollo Campero.

The Bermuda court rejected Lisa, S.A.'s allegations of fraud and money laundering against Avicola Villalobos acknowledging the prior payment of taxes in Guatemala in 1999. Further, the judge specifically declined to "make any findings that specific tax offences were committed by AVSA and/or Avicola operating companies." Moreover, neither Juan Luis Bosch nor Dionisio Gutierrez was implicated in any such matters in any manner whatsoever. Again, Juan Luis Bosch and Dionisio Gutierrez were not even parties to this litigation.

The matter, which was before Judge Ian Kawaley, was focused on determining the validity of reinsurance policies as tax deductible corporate expenses despite the plaintiff's relentless efforts to turn the matter into a tax evasion and money laundering trial to secure proceeds far greater than warranted.

The Court did order Leamington Reinsurance Company, Ltd., a Bermudian captive reinsurance company, to compensate Lisa, S.A. with regard to transportation insurance policies issued by the reinsurance company for an amount less than $2 million, plus interest and litigation fees. Efforts to settle these claims, and offers of compensation equal to what the Court ordered (minus litigation fees), had been rejected by Lisa, S.A. in 1998 prior to litigation. Rather than seek an amenable and fair arrangement years ago, Lisa S.A. sought to try this case -- over ten years -- in a foreign court for both public relations and political reasons. Lisa, S.A. has waged a campaign of relentless litigation -- filing more than 150 lawsuits in various courts around the world -- and defamation against Avicola Villalobos and some of its shareholders.

Avicola Villalobos is part of the poultry division of Corporacion Multi-Inversiones (CMI), which is owned by the Guatemalan-based Gutierrez Mayorga and Bosch Gutierrez families. Part of that poultry division is still partially owned by a third branch of the Gutierrez family living in Canada, under the corporate name, Lisa, S.A., which is principally owned by Arturo Gutierrez and his son, Juan Guillermo Gutierrez, respectively, the uncle and cousin of CMI's co-presidents Juan Luis Bosch and Dionisio Gutierrez. The Guatemalan Gutierrez's are affiliated with Pollo Campero, a well-known Guatemalan chicken restaurant chain that is expanding in the United States.

Unfortunately, there continues to be a campaign to provide misleading and inaccurate information to members of the media. Avicola Villalobos believes this misinformation campaign is nothing more than another ploy by a disgruntled shareholder to extract an inflated purchase price for a minority interest in the Guatemalan poultry companies.

Courts in the U.S. and other jurisdictions consistently have dismissed actions brought by Lisa, S.A. against the Guatemalan branches of the Gutierrez family. In addition to this victory in Bermuda and numerous state and federal court victories in Florida and Guatemala, the courts in the State of New York, Panama and the British Virgin Islands also dismissed cases filed by Lisa, S.A.