Appeal Ruling

On July 12, 2019, the First Superior Tribunal issued a ruling declining to hear the appeal filed against Order 2277-2018, which had denied Villamorey’s request for judicial auction and ordered that the $894,718.00 execution amount be satisfied through compensation using dividends belonging to Lisa, S.A. retained by Villamorey anywhere in the world. The Tribunal noted that although the lower court had mistakenly granted the appeal, it was obligated to examine independently whether the challenged ruling was appealable.

After reviewing Article 1131 of the Judicial Code, the Tribunal found that the resolution—denying a remate, ordering execution payment, and instructing communication to another court—did not fall within the closed list of decisions subject to appeal. As a result, the Tribunal held it lacked jurisdiction to examine the merits and formally declined to hear the appeal. This left Order 2277-2018 fully intact, including the instruction that Villamorey’s execution credit be compensated with dividends owed to Lisa, S.A.