Appeal Ruling

On October 25, 2022, the First Superior Tribunal of the First Judicial District reviewed Villamorey, S.A.’s appeal against Order No. 463, in which the Fourth Civil Court had declared Villamorey in contempt for failing to comply with the order to render accounts. The appellant argued that Lisa’s accounting demand lacked proper executive merit, that the court had not resolved its objections or exceptions, and that it was improper to impose contempt when the court had allegedly not ruled on pending issues. Villamorey also challenged Lisa’s standing and insisted that only the board—not the company—should render accounts to shareholders.

The Tribunal found that although the lower court used a procedure different from the one strictly prescribed by the accounting statute, Villamorey’s noncompliance placed it squarely within the consequences imposed. The court emphasized that the proper avenue for enforcing failure to render accounts is Article 1383 of the Judicial Code—which allows execution based on Lisa’s sworn estimate of the amount owed—but nonetheless held that the contempt ruling must be confirmed as issued. With that, the Tribunal upheld Order No. 463 in full.