Order: Court dismissed dividend case by Sistemas y Equipos

On March 9, 2017, the Thirteenth Civil Court of First Instance of Guatemala admitted a revocation appeal filed by Lisa, S.A. against a previous resolution dated February 24, 2017. The earlier resolution had admitted a lawsuit filed by Sistemas y Equipos, S.A. requesting the declaration of extinctive prescription over unpaid dividends owed to Lisa since 1999. Lisa challenged the admissibility of this ordinary proceeding, arguing that both companies are commercial entities and that under Guatemalan Commercial Code Article 1039, such disputes must be resolved through summary proceedings unless otherwise agreed.

The court agreed with Lisa, ruling that the ordinary route was improper. It cited both Article 1039 and Clause 25 of Lisa’s founding charter, which mandates summary judicial resolution for disputes not resolved amicably. As a result, the court revoked the earlier resolution and rejected the lawsuit in its current form. Sistemas y Equipos, S.A. must now pursue any legal claims through the appropriate summary proceeding, as defined by commercial law.