June 1, 2009

What Next?

We assume that by now you are aware of the answer we received from the Minister of Justice. If so, it is likely that your reaction was similar to ours – disappointed but not surprised. Ms. Martin very skillfully avoided any acknowledgment of the plight of investors and dismissed our appeal, citing the lack of legal authority to do otherwise. She did, however, leave the door open for "processing" of any request that might be made seeking a pardon for Oswaldo.

We have been exploring other initiatives which share the same objectives and which appear to be worth the time and energy to pursue.

1. A direct and personal appeal to President Oscar Arias to help us recover our money. If he cannot or will not do so, we will ask him what he would recommend that we do. We will shortly be submitting a formal request to meet with him to discuss the matter.

2. File a request with the Supreme Court for an injunction (amparo) that would instruct the fiscalia to notify the banking system as well as Interpol that the charge of money laundering has been dropped for lack of evidence. This accusation is what provided the fiscal with the excuse to launch his investigation and have bank accounts frozen.

3. File a request with the Ministry of Justice that an executive pardon be granted to Oswaldo. It is true that this would have little or nothing to do with our chances to get our money back, but there are compelling humanitarian reasons for doing so.

In addition to setting specific goals, these activities would also help to publicize our existence. They also can be accomplished without spending money that we do not now have.

Perhaps you are wondering what has happened to the two legal actions which we have previously discussed as possibilities. We refer to the "compulsory arbitration" provided by CAFTA for U.S. citizens and a "class action" suit against the Costa Rican government for violation of civil rights. Both remedies are still available, although either one would be costly and time consuming. But more importantly, it would seem unwise to create an adversarial relationship with the government at the same time that we hope to enlist its cooperation in the measures mentioned above. For those reasons we regard such legal action as truly a last resort, even though many of you have expressed your readiness to participate.

We are still open to your comments and suggestions. We also recognize that the statute of limitations is always running in the background, but no one seems to know for sure the date of its termination or whether the fiscal is capable of manipulating that date when the time comes.

Thanks for your continued support. We will continue to do our best with the challenge(s) we face, and we will keep you informed.

UCCR