Official Notice 28: Court notified Villamorey of lifted embargo

On January 3, 2025, the Twelfth Civil Court of the First Judicial Circuit of Panama issued Official Notice No. 28 to Villamorey, S.A., confirming that the $19,184,680.00 embargo previously imposed on Lisa, S.A.’s funds had been lifted. This action followed the Superior Court’s confirmation, dated September 30, 2024, of Auto No. 898, which approved the extrajudicial settlement reached between BDT Investments Inc. and Lisa, S.A. The original embargo had been decreed under Auto No. 1838 on December 12, 2012.

The notice specifically instructed Villamorey, S.A. to lift restrictions on funds deposited at GTC Bank that were subject to the embargo, up to the full amount originally frozen. The judge emphasized that this communication relates to prior Official Notice No. 54 of January 14, 2013, and ordered that the relevant legal annotations be updated. The measure represents the formal implementation of the court’s approval of the settlement agreement.