Motion

On August 17, 2022, Lisa, S.A. filed a motion in the executive proceeding Lisa, S.A. v. Villamorey, S.A. (Case File No. 117030-21), requesting the immediate embargo of Villamorey’s assets. Lisa notes that Villamorey has already been notified of Order No. 2567, which issued an executive payment mandate, and emphasizes that the judicial decisions supporting the execution confirm its legitimate and unavoidable right to receive dividends that Villamorey has illegally withheld. Lisa argues that the court must not allow any further delay in enforcing its rights.

To secure payment of $51,643,208.80, plus accrued interest, Lisa seeks embargo over three categories of property: (i) funds held by Financiera Consolidada de Panamá acting as fiduciary administrator for Villamorey; (ii) all shares issued by Villamorey except the 33.33% owned by Lisa, requesting that the attachment be recorded in the Panamanian Public Registry and notified to Villamorey’s legal representative; and (iii) the full judicial administration of Villamorey, for which Lisa proposes the appointment of Juan Andrés Gutiérrez as judicial administrator. The motion is based on Articles 1661 and 1682 of the Judicial Code and seeks to prevent Villamorey from continuing to withhold dividends that rightfully belong to Lisa.