JBS: Joint venture lawsuit “groundless”
Aug. 23, 2012
by Meat&Poultry Staff
GREELEY, Colo. – In an Aug. 22 press release, Link International Meat Products Limited announced the company had filed a lawsuit in the Netherlands against Wesley Batista, chief executive officer of JBS S.A. The Sao Paulo-based meat processor labeled the claims in the suit as “groundless” according to news reports.
The lawsuit alleges Batista acted to remove Jay Link from Beef Snacks International B.V. a Dutch joint venture between Jay Link and JBS. The suit alleges the move was in violation of the governing agreements of the Dutch joint venture and applicable law.
The lawsuit also alleges that Batista’s actions were intended to benefit JBS in a dispute with Jay Link, which materially prejudiced Link’s interests as an investor, partner and director in the joint venture and its subsidiaries. Link is seeking unspecified damages.
JBS said in a statement that the dispute between the company and Link International Meat Products was settled in March 2011 by the International Chamber of Commerce. Jay Link “has lost every one of the lawsuits filed against JBS as the original decision by the arbitration chamber prevails,” the company said.
Jay Link and JBS formed Beef Snacks International in 2007. Beef Snacks International was to produce and sell beef jerky through Brazilian and American subsidiaries.