On Wednesday, we reported that CPBL; the Citrus Growers of Belize Limited may be facing a lawsuit in the United States Supreme Court, brought against the company by SOCIEDAD AGRICOLA HERMANOS PEREZ, INC., of Puerto Rico. SAHP, INC is a distributor of CPBL’s CitroPulpa; pellets made from citrus pulp which is used in the U.S. and Europe to feed cattle and other livestock. They are claiming that after verbally and contractually giving them exclusive Distribution rights to the CitroPulpa product, and after having spent time and money distributing and promoting the project, CPBL has terminated the exclusivity. When we called the Company’s majority shareholder; the Citrus Growers Association, CEO Henry Anderson says he knows NOTHING of the lawsuit and only heard of the matter when we called him!
Well yesterday, we contacted CPBL’s CEO, Dr. Henry Canton for comment and were told that the company has received only a threat of a law suit within 90 days. He informed us that CPBL does not have sole ownership of the CitroPulpa, but shares possession with a company in the Dominican Republic, known as CASA. The allegations brought against CPBL, says Canton, are false and that in fact, it is the Puerto Rican Company who owes them monies. According to Dr. Canton, since being served with notice, CPBL has been able to substantially reduced what they are being accused of, and, the reason for not informing its shareholders? Mr. Canton explained that the document has been sent to CPBL’s lawyers for revision and really to figure out what’s going on. The company had intended to await a response from their lawyers before meeting with their shareholders.