Opposition to Shareholder Exclusion
4 lawsuitsLisa's suits against the April 2011 votes by which twenty-two companies of the Avícola Villalobos Group resolved to exclude it as a shareholder and liquidate its stake.
On April 4, 5 and 6, 2011, twenty-two companies of the Avícola Villalobos Group resolved in ordinary assemblies to exclude Lisa as a shareholder, citing its lawsuits and an alleged press campaign, and directed that its share be liquidated. Lisa opposed each exclusion in summary proceedings on three grounds: an exclusion needs an extraordinary assembly, the companies had not shown the reserves to buy an excluded shareholder out, and the three-month window to exclude had closed years before. The one opposition decided on the merits and confirmed on appeal went Lisa's way on that last ground, and the company has taken it to the Supreme Court; two exclusions stand on procedural grounds alone, and none has been upheld on the merits. Whatever the outcome, an excluded shareholder is paid out the value of its share.
| Caption | ||
|---|---|---|
| Exp. 01043-2011-00112 | Lisa, S.A.'s opposition to its exclusion as a shareholder of Reproductores Avícolas, S.A. | 2011 |
| Exp. 01162-2011-01095 | Lisa, S.A.'s opposition to its exclusion as a shareholder of Compraventa de Productos Alimenticios, S.A. | 2011 |
| Exp. 01163-2011-01084 | Lisa, S.A.'s opposition to its exclusion as a shareholder of Distribuidora Avícola del Norte, S.A. | 2011 |
| Exp. 01165-2011-1081 | Lisa, S.A.'s opposition to its exclusion as a shareholder of Compañía Alimenticia de Centroamérica, S.A. | 2011 |