Action: Legal Action to Demand Issuance of Share Certificates

This oral proceeding was initiated by BDT Investment, Inc., a Barbados-based shareholder, against Villamorey, S.A., in Panama. BDT, which acquired 33.33% of Villamorey’s shares through a judicially recognized transaction with LISA, S.A. (as per Auto No. 898, April 12, 2022), claims that Villamorey’s directors and agents have unlawfully refused to issue and register the corresponding share certificates. The lack of registration in the company’s shareholder ledger directly violates Panamanian commercial law, jeopardizing BDT’s legal rights and ability to participate in corporate governance.

The legal filing emphasizes that repeated formal requests were ignored, including certified correspondence and sworn statements. BDT fears continued exclusion from shareholder rights and seeks judicial enforcement to compel Villamorey, S.A. to issue the certificates and update the shareholder registry. The claim references obligations under Panama’s Commercial Code and penal statutes related to obstruction of shareholder rights. The dispute is provisionally valued at USD $60 million.