Admits BDT Investments as third-party co-litigant supporting Lisa in dividend prescription proceeding
Mar 20 2024
12th Civil Court
The Twelfth Civil Court of First Instance of Guatemala admitted BDT Investments Inc. as a third-party co-litigant (tercero coadyuvante) supporting Lisa, S.A. in the summary proceeding filed by Reproductores Avícolas, S.A. BDT's intervention strengthens Lisa's procedural position in a lawsuit whose purpose is to declare the extinctive prescription of Lisa's right to collect dividends, a claim that forms part of the Avícola Group's pattern of legal actions aimed at extinguishing outstanding obligations owed to Lisa as a shareholder.
Reproductores Avícolas, S.A. filed this summary proceeding against Lisa, S.A. alleging that Lisa's right to claim dividends had prescribed through the passage of more than five years without having been claimed. The case was heard before the Twelfth Multipersonal Civil Court of First Instance of Guatemala. After all procedural phases of the summary proceeding through the hearing had been completed, BDT filed memorial 1353-24 requesting admission as a third-party co-litigant supporting the defendant.
Reproductores Avícolas, S.A. filed a revocatoria motion against this order, arguing that BDT failed to demonstrate a certain and direct interest in the matter, that the assignment of rights in the transaction agreement did not cover the present proceeding, and that there were deficiencies in the notarization and tax payment. The order of April 19, 2024 declared the revocatoria denied, holding that the merits of the third-party intervention must be resolved together with the main case in the final judgment, pursuant to Article 551 of the Code of Civil and Commercial Procedure.