Official Notice 1573

This official notice is the instrument through which the Fourth Circuit Civil Court of the First Judicial Circuit of Panama directly communicates to Banco G&T Continental the obligation to retain and deliver financial assets of Villamorey, S.A. up to $44,913,412.00, enforcing the Order No. 1234/14606-21 of August 1, 2022 that decreed the attachment 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. The communication does not establish new conditions or expand the scope of the attachment: it is limited to enforcing the order previously decreed by the Court.

Procedural Context

The $44,913,412.00 attachment comprises $44,910,912.00 in retained dividends for the period 2009-2019 and $2,500.00 in daily fines of $100.00 imposed for Villamorey's failure to comply with the order to render accounts. Order No. 1234, issued August 2, 2022, ordered the seizure of bank accounts, shares in the Avicola Villalobos corporate group, and registered movable property across multiple jurisdictions (Panama, Guatemala, El Salvador, Honduras, Curacao, and the Netherlands). This notice effectuates the banking communication within the Republic of Panama, directed specifically to Banco G&T Continental. Weeks later, Villamorey attempted to challenge these measures through an amparo action that was rejected by the First Superior Tribunal.

Signatories

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