Media Mogul Rene R. Villanueva Sr. and his son Rene Junior are being sued by the Development Finance Corporation for a sum that's said to be in the six or seven figure range.
The lawsuit we are told has to do with an outstanding loan that the Villanueva's acted as Guarantors for, when they took ownership of the popular 'palapa style Tavern' known as Cahal Pech located in San Ignacio.
The club was bought by the Villanuevas in early 2000 through a loan issued by the DFC, to Cahal Pech Limited a registered company that lists the Father and Son as co-owners.
In a telephone conversation this afternoon, Villanueva Senior told 7 News he thought that the matter had long been resolved through a clear agreement with the DFC, and (quote): "was behind us."
But apparently the folks at DFC are not of the same opinion. According to Villanueva, he received notice earlier this year that the DFC had filed a lawsuit against his registered company, Cahal Pech Limited but the matter has not reached the court yet as a result of a series of adjournments.
The lawsuit came as a complete surprise says Villanueva. He went on to say (quote): "The current DFC administration chose to violate an agreement in breach of a clear understanding that the matter had been resolved and that both he and his son Rene Junior, were absolved of the liability in said agreement."
Villanueva would not confirm the amount that DFC is seeking in its lawsuit, saying only that he was not in a position to disclose any details of the agreement, as the matter is now before the court.
The establishment according to Villanueva was sold to an American Investment company, called the PRDD. That company according to former PUP Minister Dan Silva, who held a 3 percent stake interest in it, bought out the Villanueva's liability for an approximate 900 Thousand dollars.
Silva told Seven News that he is at a loss as to why DFC would be pursuing the Villanueva's for a loan that the PRDD had taken over.
Villanueva said the lawsuit is baffling and questions the DFC's administration's motive for filing what he feels to be a frivolous lawsuit, but he has every confidence that once the matter is heard in court, both he and his son will prevail.
And, what might be interpreted as a 'tit for tat', the Villanuevas have filed a counter suit for DFC's violation of an agreement. The suit is seeking damages for defamation of character. The Villanuevas were scheduled to appear in court sometime this month, but the case has been adjourned for an unspecified date in early December. We attempted this afternoon to get a comment from DFC, but were told that the General Manager was out of office, and, that any information about the lawsuit in question must be requested in writing.
