Panama's Fourth Civil Court directs Banco G&T Continental to retain and deliver Villamorey, S.A.'s financial assets up to $44,913,412.00 in favor of Lisa, S.A.

Content of the Order

The notice instructs Banco G&T Continental to retain all funds held by Villamorey, S.A. at the institution, in any form (savings deposits, checking accounts, fixed-term deposits, securities, or any other type), and to deliver those funds to the executing party. It does not establish new conditions or expand the scope of the attachment; it is limited to enforcing the attachment previously decreed by the Court in Order 1234.

Procedural Context

The $44,913,412.00 attachment comprises $44,910,912.00 in retained dividends for the 2009-2019 period and $2,500.00 in accumulated daily fines of $100.00 imposed for Villamorey's failure to comply with the order to render accounts in Exp. 14606-21. Order 1234, issued August 2, 2022, ordered the seizure of bank accounts, shares in the Avícola Villalobos corporate group, and registered movable property across multiple jurisdictions (Panama, Guatemala, El Salvador, Honduras, Curaçao, and the Netherlands). The present notice effectuates the banking communication within the Republic of Panama, directed specifically to Banco G&T Continental. Weeks later, Villamorey challenged these measures through an amparo, which the First Superior Tribunal rejected in the Amparo Ruling.

Signatories

• Mgter. Solange Le Ferrec de Booker, Fourth Circuit Civil Judge of the First Judicial Circuit