OTS - Maria Luisa and Lady Monika Bacardi strongly criticise the behaviour of BACARDI LTD in the run-up to the AGM
2022. April 25. 11:25
Monaco, 25 April, 2022 (APA/OTS) - BACARDI LTD summoned to take
part to the hearing scheduled on 5 May 2022 in Monaco on the
question of the nullity and voidity of Bastille Trust and of its
lack of titles on the BACARDI LTD shares. - Maria Luisa and Lady
Monika Bacardi, daughter and widow of the late Lord Luis Bacardi,
are scathingly critical of the conduct of the management of BACARDI
LTD in the run-up to the Annual General Meeting of BACARDI LTD to
be held on 16 June 2022. This follows the sending of the nomination
forms for the candidates to be voted on at the AGM. These appear to
be grossly defective across a number of areas and provide scope for
challenging the resolutions of the AGM.
Again, the invitations to the AGM were sent to the trustees of
the Liechtenstein of the BASTILLE TRUST in their capacity as
directors of the two underlying vehicles, Rantex Anstalt and Arateo
Anstalt, who, in the opinion of the management of BACARDI LTD, hold
the blocks of shares in BACARDI LTD, and are therefore recorded in
the share register.
Invitation to the general meeting delivered to a void legal
construct and lacking of the titles on the shares?
BASTILLE TRUST is a void legal construct and lacking any title
to the BACARDI LTD shares according to the heirs of Lord Luis
Bacardi. The confirmation of this nullity and lack of titles to the
BACARDI LTD shares is currently being sought in court proceedings.
In addition, there are other pending proceedings to clarify
whether the transfers of ownership of Lord Luis Bacardi's share
packages to the BASTILLE TRUST and to its underlying vehicles by
his lawyers were carried out lawfully and whether these two
entities are, in fact, the owners of the shares in BACARDI LTD. In
the meantime, an AFFIDAVIT by the formal settlor of the BASTILLE
TRUST has been received, confirming the nullity of the trust and
the glaring deficiencies in the transfers of ownership on the
shares. The judicial clarification of ownership will take place in
Monaco, among other jurisdictions. BACARDI LTD has been summoned to
take part to the hearing on 5 May 2022. All proceedings are well
known to the company.
CEO candidate Facundo Bacardi with irresolvable conflict of
interest with BASTILLE TRUST
In addition, Facundo Bacardi, current CEO of BACARDI LTD, is
again nominated by his governance as Chairman of the Board of
Directors at the AGM. He has been entangled in a massive and
irremediable conflict of interest regarding the BASTILLE TRUST for
decades. On 2004 he was installed as a family trustee in the
BASTILLE TRUST against the wishes of the late Lord Luis Bacardi.
Lord Luis Bacardi, and later his widow, were only able to get him
removed after several years of court proceedings.
The company he represents, failed to execute the transfer of
the share packages registered in the name of Rantex Anstalt and
Arateo Anstalt, under the control of BASTILLE TRUST, to another
private vehicle governed by Lord Luis Bacardi and before that to
his daughter, when it was ordered to do so by the dying Lord Luis
Bacardi. Meanwhile, Facundo Bacardi is still the ultimate
beneficiary of the BASTILLE TRUST, contrary to the express will of
Lord Luis Bacardi, as he clearly stated in his MEMORANDUM OF WISHES
dated 30 November 2004.
The unprecedented insistence with which BACARDI LTD is trying
to ignore this situation and the numerous legal issues surrounding
the nullity of the BASTILLE TRUST, and the lack of titles on the
BACARDI LTD shares by Arateo Anstalt and Rantex Anstalt, is breath
taking. Coupled with the CEO's irresolvable conflict of interest in
relation to a share package of about 6% of the corporate capital,
this behaviour is evidence of glaring governance deficiencies in
the group. The suspicion is, that compliant enablers are helping
Facundo Bacardi to be re-elected chairman of the board. For our
part, the results of the Annual General Meeting will in any case be
examined, and we reserve the right to challenge all resolutions.
*** ENDS ***
Media Inquiries
International Press Office
Lady Monika and Maria Luisa Bacardi
Email press@bacardi-family.com
Phone: +442038355020
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