Fellow Investors: 

On April 20th of this year we sent out an announcement of the rejection by the Constitutional Court of the Recurso de Amparo which we had submitted in March.  We noted at the time that the ruling by the magistrate in charge of the case had not  been endorsed (read?) by the remaining members of the tribunal and that the written opinion of  Judge Fernando Cruz was not available.

Based upon the recent handling of similar cases we indicated our expectation that we would soon report on the basis of the rejection as well as the concurrence of the other magistrates.

We are still waiting to hear what and why the decision was made. The significance of this is unclear.  The only conclusion to be drawn is that the denial of our Recurso is not yet set in concrete.  The motive behind the Court's inaction is purely speculative.  An educated guess would be that, since the distribution of our money was already in progress when the  Recurso was submitted, the Court is stalling to avoid a public pronouncement until all the money is gone.  It might be difficult to explain how two million dollars of our money was awarded to one of the claimant's attorneys.

Whatever the reason, we have no other option than to get on with the lawsuit against the government.  We still do not have a translated copy of the document being prepared by attorney Romero, but we do have a draft.  When the final copy has our approval and has been filed, you will receive another message from the UCCR.  Meanwhile, we appreciate your patience while we do what we can to expedite the process, realizing that Costa Rica is not known for its prompt action and adherence to schedules.


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