Order 898: Court approved settlement between BDT and Lisa

On April 12, 2022, the Twelfth Civil Court of Panama issued Order No. 898, approving an out-of-court settlement agreement presented jointly by the legal representatives of BDT Investments Inc. and LISA, S.A. The settlement, signed on February 19, 2020, was deemed compliant with Article 1082 of the Panamanian Judicial Code. The court verified that both parties had full legal capacity to enter the agreement and that its terms did not contravene public order or legal norms.

As a result, the court formally approved the “Liquidation Agreement with Rights Assignment Obligation” executed between LISA, S.A. and BDT Investments Inc. The agreement was signed voluntarily and acknowledged by both parties as a legitimate resolution to the dispute. This order effectively ends the executive process filed by BDT against LISA, which had previously resulted in a $19.2 million embargo (Order No. 1838-2012).