Opposition: Lisa, S.A. opposed prescription of dividend payment

On August 18, 2025, Lisa, S.A. submitted its written arguments before the Thirteenth Civil Court of First Instance of Guatemala, opposing the lawsuit filed by Avícola Las Margaritas, S.A. seeking to declare prescribed the obligation to pay dividends decreed in the 2014 shareholders’ assembly. Lisa argued that the obligation to pay dividends was never perfected, since the company’s bylaws give the board of directors—not the assembly—the authority to determine the date and form of payment. Without such a resolution, the dividends never became legally payable, and therefore the prescriptive period could not begin to run.

Lisa, S.A. further emphasized that the dividends in question have been under multiple judicial embargoes for more than two decades, making them unavailable for collection by any shareholder. As judicially sequestered funds, they remain under the custody of Avícola Las Margaritas as judicial depositary, and cannot be freely disposed of until the embargoes are lifted. The company therefore requested that the court dismiss the prescription action, uphold its exceptions for lack of factual and legal grounds, and order Avícola Las Margaritas to pay court costs.