Apr 12 2022
12th Civil Court
The simple executive proceeding had given rise, on December 12, 2012, to a $19,184,680.00 attachment under <doc id="pty-31638-12-2012-12-12-a" />, issued by the same court. That precautionary measure reached a broad set of Lisa, S.A.'s assets: shares in eight companies (including Villamorey, S.A. and several Avícola Villalobos Group companies incorporated in Guatemala), declared and future dividends, funds held for Lisa by Villamorey at GTC Bank Inc., the rights and credits Lisa stood to recover in the ordinary proceeding with sequestration action it brought against Villamorey (<law id="pty-556-99" />, where sequestration had been decreed under <doc id="pty-556-99-2008-10-27-a" /> of October 27, 2008), and any sums Lisa held in local banks. The attachment remained in force for more than nine years without effective recovery of the debt.
The parties submitted an extrajudicial settlement, executed on February 19, 2020 through their respective counsel, and asked the Court to approve it and terminate the proceeding. The Court confirmed that the proponents held authority to settle and withdraw from the proceeding and that the agreement's clauses did not contravene the legal order, satisfying Article 1082 of the Judicial Code, and on that basis approved the settlement and brought the simple executive proceeding to a close. The approval ends a precautionary measure that had encumbered Lisa's shares, dividends, and bank funds across Panama and Guatemala for nearly a decade.