Lisa reiterates dividend return petition with share register proof of baseless sequestration annotation
Apr 30 2025
Lisa, S.A.
Lisa, S.A., through counsel Lcda. María Luisa Villarreal Palacios, filed on April 30, 2025 before the Eleventh Circuit Civil Court of the First Judicial Circuit of Panama a second reiteration of the dividend return and civil contempt petitions originally submitted on February 10, 2025. Unlike the first reiteration of March 27, 2025, which focused on rebutting claims of non-finality raised in criminal proceedings, this filing introduces new documentary evidence that materially strengthens the factual basis for both petitions.
The motion attaches a page from Villamorey, S.A.'s Share Register Book, an authenticated and apostilled copy on file in Case No. 14240-21 before the Sixth Circuit Civil Court of Panama. The document reveals that Villamorey, S.A. continues to carry the sequestration annotation on Lisa, S.A.'s dividends in its share register, as though the precautionary measure remained in effect.
Lisa, S.A. argues this annotation lacks any legal basis. The original sequestration, decreed under Order No. 1624-08 of October 27, 2008, was extinguished by Order No. 2277-2018 of December 5, 2018, which directed the $894,718.00 judgment to be satisfied through set-off against the retained dividends. The finality of that order was confirmed by the First Superior Court's inhibition in July 2019 and the Supreme Court's amparo denial in June 2020.
Lisa, S.A. reiterates that Juan Luis Bosch Gutiérrez, constituted as judicial depositary since November 2008 under Article 536(4) of the Judicial Code, remains legally obligated to return the retained funds and render an accounting of his tenure. The filing recalls that Bosch Gutiérrez himself acknowledged in his note of November 25, 2008 that the retained dividends were at the court's disposal.
Lisa, S.A. characterizes the persistence of the share register annotation as deceptive conduct by Villamorey, S.A. and Bosch Gutiérrez, designed to manufacture a pretext for the continued retention of funds that legally belong to Lisa, S.A. The filing emphasizes that following the lifting of the BDT Investments, Inc. attachment, communicated via Official Notice No. 29 of January 3, 2025, no precautionary measures of any kind remain in force against Lisa, S.A.