Order: Court dismissed dividend case by Reproductores

On March 28, 2023, the Eighth Civil Court of First Instance rejected the lawsuit filed by Reproductores Avícolas, S.A. (formerly Escobio, S.A.), which sought to extinguish its dividend debt to Lisa, S.A. by alleging that five years had passed since the dividends were declared and not claimed. The court held that Reproductores failed to prove when the obligation to pay dividends became enforceable. Although the 2012 shareholders' resolution approved the dividend distribution, it did not specify the date, form, or amount of payment, nor was the corporate charter submitted to clarify these issues.

The judge further ruled that Reproductores did not provide sufficient proof that Lisa abandoned its right or remained inactive. In contrast, Lisa had submitted evidence of legal and extrajudicial actions, including a 2017 demand letter, that interrupted any prescription period. Because Reproductores could not prove the legal enforceability of the obligation or the lack of action by Lisa, the court dismissed the lawsuit. No court costs were imposed due to the complex nature of the case.