Heat the oil in a large saucepan; add the garlic and onion and sauté for 3 minutes. Add the Las Palmas Red Chile Sauce and tomatoes and bring to a boil. Add the bell pepper and stir for 2 minutes.
Add the salt and pepper and stir for 2 minutes. Add bay leaves and oregano. Set aside.
When the mixture turns to a boil, cover and cook over low heat for 8 minutes. Add the olives and capers and cook for another 5 minutes. Adjust the seasoning to taste and remove from the heat.
Twenty minutes before serving, preheat the oven to 375f (190 c). Rinse the fillets pat dry and sprinkle lightly with salt and pepper. Melt the butter in a large skillet; add the fillets and cook until lightly brown on both sides.
Transfer to a greased baking dish and cover with the sauce. Cover the dish with aluminum foil and bake for 10-15 minutes. Garnish each fillet with sauce before serving.