Order 463: Court held Villamorey in contempt for noncompliance

On April 8, 2022, the Fourth Civil Circuit Court of the First Judicial Circuit of Panama issued Auto No. 463, declaring Villamorey, S.A. in contempt for failing to comply with the court’s prior order to render accounts to Lisa, S.A. This contempt motion was filed by Lisa's legal representative on July 26, 2019, admitted on December 29, 2021, and based on the company's continued non-compliance with Auto No. 283, which had granted Villamorey 30 days to comply following formal notification. The court emphasized that more than enough time had passed without any submission of the required accounts.

The judge therefore found the contempt proven and ordered Villamorey's legal representative, Ramiro López Nimatúj, to appear before the court on April 29, 2022, to deliver the overdue accounts. Should he fail to appear, a daily fine of $100 would be imposed until compliance is achieved. The ruling is grounded in Article 1932 of Panama’s Judicial Code and underscores Lisa, S.A.’s right as a 33% shareholder to demand transparency from Villamorey, S.A.