Recurso de Amparo
March 16, 2010

Dear Fellow Investors:                                 

Some of you may be aware of the fact that a “negotiated” settlement was reached  between  attorneys representing Oswaldo Villalobos and Lic. Acuña with respect to the disbursement of money confiscated by the government and awarded by the Court to investors who chose to sue the Villalobos’ concurrently with the trial of Osvaldo.  This settlement was presented to the judge assigned to the “Conciliacion court”, which agreed to the terms and, in January of this year, instructed the custodian of those funds to release them.  This matter was reported in the March 1st edition of “AM Costa Rica”.  We have learned that this dispersal is, indeed, taking place at the present time.

It is our position, as well as that of our attorney, that neither the Court nor the involved attorneys have the legal right to determine who shall receive funds that belong to all investors – proportionate to the amount of their investments, regardless of whether they chose to sue the Villalobos’.  It is a real stretch to conclude that Lic. Acuña is entitled to receive $2,000,000 of our money.   

It is obvious that the estimated amount of the money and property in question is not nearly enough to make anyone wealthy (except, perhaps, the attorneys) but it should be just as obvious that there has been flagrant abuse of the law as well as our civil rights.

That being said, on March 15 we took legal action designed to call attention to the abuses.  Our lawyer filed what is termed a “Recurso de Amparo”, by which we seek an end to the payouts and put the spotlight on the illegal activity which has taken place.   We expect to have more chance of success with the latter than the former. We should know in about 10 – 14 days if our recurso will be accepted, but we do not know how the Semana Santa recess will factor into this.

This initiative should not be confused with our pending lawsuit against the State (alluded to in the recurso).  A copy of the document in the form in which it was submitted to the Court is posted on our website in both the Spanish and English pages.

We should point out that the recurso was filed on behalf of one of our Board members.  However, we are working to find a means by which as many other investors as wish to do so may join the effort.  More on that later.

Copies of the English and Spanish postings are copied below for your convenience. [Omitted here since they are already on the website.]

Grupo UCCR
www.ticostuff.com/uccr
uccr@ticostuff.com