The Constitutional Chamber of the Supreme Court of Justice left intact the ruling issued in a court in Aragua, favorable to Francisco Paolini, majority shareholder of the company Larkinven Representaciones CA, a company dedicated to the production and distribution of chemicals.
Such a decision follows from sentence 0428, drafted by Judge Calixto Ortega and released on August 2 last. On that occasion we published a report entitled “TSJ restores rights of foreign investors.” In relation to such publication, José Castillo, lawyer for Larkinven Representaciones CA, sent a letter to the newsroom where he clarified that said company is purely Venezuelan with no link to Larkin Colombia.
“The Larkinven brand is duly registered in Venezuela before state agencies,” says Castillo, who stressed that “they want to manipulate reality with false messages, making it appear that the TSJ ruling is in favor of some person, something totally remote.”
In this regard, Castillo recalled that the Constitutional Chamber ordered that another court, different from the First Superior Court for Civil, Commercial, Transit and Banking of Aragua, analyze whether the suspension of the measures that weighed on Larkinven and that practically maintained inoperative to that company.
“The Constitutional Chamber did not annul the ruling of the 1st Civil Court of First Instance of Aragua that declared inadmissible the claims of Juan Manuel Niño to annul a Larkinven assembly where some shares were traded,” explained Castillo.
Juan Manuel Niño, the plaintiff, never had a shareholding percentage greater than 30%, Castillo said.
“He (Niño) has not had any rights violated as an investor because he is not an investor, he is a minority partner who has never lived in Venezuela nor has carried out any real activity to maintain the business of the company as if he had done it. majority shareholder Francisco Paolini and his workers facing the economic vicissitudes, but betting on our country”, said lawyer Castillo.
On this point, Castillo explained that in 2020, Tomás Piñero put up for sale his shares, which totaled 17%, which he offered to Niño, who rejected the proposal in writing. Faced with this situation, Francisco Paolini bought Piñero’s shares and immediately proposed a capital increase at a shareholders’ meeting, but Niño decided not to participate in it, reducing his shareholding to 0.001%, Castillo explained.
“It is precisely that assembly that Niño is asking to be annulled, an approach that was rejected by the 1st Civil Court of First Instance of Aragua,” he stressed. “He wants to ride the wave of the new Colombo/Venezuelan relations to try to find something that he cannot legally do,” concluded Castillo, who clarified that the Civil Chamber is pending to address this trial.
The seller speaks.
for su part Tomás Piñero, former founding partner de Larkinven confirmed that two years ago it put its shares up for sale in accordance with the Commercial Code. “When I offered, Juan Manuel Niño said in writing that he was not interested,” Piñero clarified.
“I don’t know why now Niño demanded the annulment of the sale of my shares, since everything was done correctly,” said Piñero.
