Order: Revokes admission of dividend prescription suit by Escobio, S.A.

On August 3, 2018, the Fourteenth Civil Court of First Instance granted Lisa, S.A.’s revocation motion against a February 24, 2017 decree that had admitted a dividend prescription lawsuit filed by Escobio, S.A. (now Reproductores Avícolas, S.A.). The court reasoned that because the claim sought to declare prescribed dividends arising from shareholder resolutions, the matter was inherently commercial in nature. Furthermore, the company’s articles of incorporation expressly required disputes between the company and its shareholders to be resolved through a summary commercial proceeding.