Motion

Lisa, S.A. filed a formal petition before the Eleventh Circuit Civil Court of Panama requesting that Juan Luis Bosch Gutiérrez and Villamorey, S.A. be ordered to return dividends retained for sixteen years and that Bosch Gutiérrez render a full accounting of his tenure as judicial depositary. Filed on February 10, 2025, this motion opens the active recovery phase in Proceeding No. 556-99, after more than four years of procedural inactivity since the case file was sent to the judicial archives in December 2020.

Factual Basis

The petition is built on a chain of completed procedural events. The $894,718.00 judgment against Lisa, S.A. was extinguished by set-off against dividends retained by Villamorey, S.A., pursuant to Order No. 2277-2018 of December 5, 2018. That order became final and executory after the First Superior Court declined jurisdiction in July 2019 and the Plenary of the Supreme Court of Justice unanimously denied amparo in June 2020.

The immediate trigger for the petition was Official Communication No. 29 of January 3, 2025, issued by the Special Acting Judge of the Twelfth Circuit Civil Court, notifying the lifting of the attachment against Lisa, S.A. in the BDT Investment, Inc. enforcement proceeding (Case No. 31638-12). The communication confirmed that the Fourth Superior Court of Justice, by resolution of September 30, 2024, approved the settlement between BDT Investment, Inc. and Lisa, S.A. and ordered the lifting of the attachment decreed for $19,184,680.00 under Order No. 1838 of December 12, 2012. The communication was received by the Eleventh Circuit Court on January 30, 2025.

With this lifting, no precautionary measure of any kind remains in force against Lisa, S.A. that could justify the continued retention of its dividends.

Depositary Obligations

Lisa, S.A. grounds its petition in Article 536(4) of the Judicial Code, which provides that a third party constituted as judicial depositary is subject to the responsibilities prescribed by law. The petition recalls that Juan Luis Bosch Gutiérrez, through a note dated November 25, 2008, expressly stated that the dividend retentions were at the Court's disposal. Lisa, S.A. quotes this communication directly and argues that, with all proceedings justifying the retention now concluded, Bosch Gutiérrez is legally obligated to render an accounting and return the retained funds.

"Hacemos de su conocimiento que las retenciones que corresponden a la medida cautelar decretada en cuanto a las sumas de dinero en concepto de dividendos declarados que tenga derecho LISA, S.A., están a disposición de este Tribunal, en cualquier momento que lo requiera." (Page 1)

Relief Sought

• That the court communicate to Juan Luis Bosch Gutiérrez that his function as judicial depositary has concluded
• That Bosch Gutiérrez be ordered to render an accounting of his management of Lisa, S.A.'s dividends
• That Bosch Gutiérrez and Villamorey, S.A. be ordered to return the retained funds to Lisa, S.A., as mandated since Order No. 2277-2018 became executory

Legal Basis

• Article 536(4) of the Judicial Code — establishes the constitution of judicial deposit when a third party holds assets belonging to the defendant, and the depositary's legal responsibilities

Signatories

• Lcda. María Luisa Villarreal Palacios, judicial representative of Lisa, S.A.