Lawsuits

This lawsuit centers on Villamorey, S.A. and Juan Luis Bosch Gutiérrez’s continued withholding of dividends belonging to Lisa, S.A. long after the Eleventh Civil Court ordered the judgment to be satisfied through setoff in 2018. Although the setoff extinguished the debt and ended all embargoes, Villamorey and Bosch—acting as judicial depositaries—refused to return the surplus dividends, failed to provide an accounting, and maintained a false embargo notation, prompting years of enforcement actions by Lisa to recover its funds.

This lawsuit concerns Villamorey, S.A.’s refusal to comply with the Eleventh Civil Court’s binding payment order directing it to pay more than $51 million in dividends owed to Lisa, S.A. Despite the order’s immediate enforceability and the non-suspensive nature of Villamorey’s appeal, the required embargo and enforcement measures were never carried out, leaving the payment mandate unexecuted and prompting repeated efforts by Lisa to compel judicial enforcement.

This lawsuit centers on BDT Investments Inc.’s multi-year effort to recover $19 million in funds and rights belonging to Lisa, S.A. but withheld by Villamorey, S.A. even after the Twelfth Civil Court lifted the 2012 attachment and approved the parties’ binding settlement. Despite final appellate confirmation, Villamorey and its agent Juan Luis Bosch Gutiérrez refused to release the funds or account for their management, forcing BDT to pursue additional judicial measures in 2025 to secure full compliance.

This lawsuit arises from Villamorey, S.A.’s ongoing refusal to issue and register the 33.33% shareholding that BDT Investments Inc. legally acquired from Lisa, S.A. and which was validated by Order No. 898-2022. Despite acknowledging BDT’s ownership in multiple judicial filings, Villamorey has blocked the issuance of nominative shares, withheld access to the shareholder registry, and prevented BDT from exercising its corporate rights—forcing BDT to seek a court order compelling compliance and restoring legal certainty.

This lawsuit arises from Villamorey, S.A. and Juan Luis Bosch Gutiérrez’s long-standing refusal to deliver dividends owed to Lisa, S.A., despite recognizing Lisa as a 33.33% shareholder and repeatedly convening it as such. After years of nonpayment, denial of financial information, and obstruction of shareholder rights, Lisa filed an ordinary damages action to quantify the withheld dividends and recover resulting losses.

This lawsuit arises from Juan Luis Bosch Gutiérrez’s long-standing failure to render a judicial accounting for the dividends he and Villamorey, S.A. have held under judicial deposit since 2008. Despite formally acknowledging custody of the funds and despite multiple judicial determinations affirming Lisa, S.A.’s right to an accounting, Bosch refused to appear, withheld the dividends for more than sixteen years, and blocked transparency into the use and status of the deposited assets, forcing Lisa—and later BDT Investments Inc.—into extended litigation to obtain judicial oversight and restitution.

This lawsuit arises from Villamorey, S.A.’s persistent refusal to provide a formal accounting to Lisa, S.A., despite clear judicial orders requiring full disclosure of corporate management and shareholder information. For years, Villamorey withheld financial records and millions in dividends, ignored court-mandated deadlines, and resisted oversight through procedural attacks—including a failed amparo, an unsuccessful recusal strategy, and multiple rejected objections—prompting contempt findings, substantial fines, and asset attachments. The appellate courts have repeatedly confirmed Lisa’s rights as a 33.33% shareholder and reinstated the action, emphasizing Villamorey’s ongoing legal duty to render accounts and disclose the information it has long concealed.

This criminal complaint centers on Juan Luis Bosch Gutiérrez’s alleged misappropriation of dividends belonging to Lisa, S.A., whose shareholder rights were later succeeded by BDT Investments Inc. Despite a 2018 court order requiring Villamorey to satisfy its judgment through setoff and return the surplus, Bosch retained the funds, executed an unlawful capital increase, obstructed audits, and withheld financial records, prompting a criminal investigation for misappropriation and related offenses.

This criminal complaint centers on the alleged deliberate obstruction of the enforcement proceedings initiated by Lisa, S.A. against Villamorey, S.A. The former Eleventh Civil Court judge allegedly froze the case for more than two years, ignored mandatory procedural requests, and blocked legally required embargo measures, preventing the execution of a binding judicial order in Lisa’s favor. These actions led to a criminal investigation for abuse of authority and breach of public-service duties, which the Anti-Corruption Prosecutor formally admitted through Resolution No. 55-2025.

This criminal complaint centers on the alleged diversion of more than $40 million in dividends owed to Lisa, S.A. by Villamorey, S.A. and its general agent, Juan Luis Bosch Gutiérrez. The complaint asserts that Bosch withheld Lisa’s 33.3% shareholder dividends, concealed or destroyed accounting records, and ignored judicial deposit obligations ordered by the Eleventh Civil Court. These actions prompted a criminal investigation for fraud, financial crimes, document falsification, and related offenses, which the Public Ministry formally admitted through Resolution No. 2186-22.

This criminal complaint concerns allegations that Villamorey, S.A., its legal representative Ramiro López Nimatúj, and its law firm GALA sought to intimidate the Fourth Civil Court judge presiding over Lisa’s judicial-accounting case. By filing a baseless criminal complaint against the judge—later dismissed by prosecutors—they allegedly pressured the court to reverse an embargo order, obstructed judicial scrutiny, and engaged in conduct forming part of a broader pattern aimed at undermining Lisa’s shareholder rights.

This criminal complaint was filed by Villamorey, S.A. against Judge Solange Le Ferrec of the Fourth Civil Court, alleging abuse of authority during Lisa’s judicial-accounting case. Prosecutors later dismissed the accusation, finding no evidence of misconduct and confirming that the judge acted within her lawful powers. The baseless filing subsequently became a central element in Criminal Case No. 202200053278, where Villamorey is accused of unlawfully intimidating the judge to influence the outcome of the civil proceeding.

This criminal complaint was filed by Villamorey, S.A. against Lisa, S.A., alleging crimes against the administration of justice and extortion. Prosecutors found no false filings or illicit intent by Lisa, determining instead that its actions arose from a legitimate shareholder dispute over withheld dividends. The case was provisionally archived for lack of criminal elements.

Since 2012, the Avícola Villalobos Group companies have repeatedly filed claims against Lisa, S.A., alleging reputational and financial harm supposedly caused by Lisa’s efforts to recover its dividends. Courts rejected these claims—finding them premature, procedurally flawed, time-barred, or entirely unsupported by evidence. Higher courts affirmed each dismissal, and in some cases sanctioned the plaintiffs for misusing judicial procedures. The record demonstrates a consistent pattern: these claims were unfounded retaliation against Lisa, designed to obstruct its shareholder rights and preserve unjustified embargoes over its dividends.

Since 2017, the Avícola Villalobos Group companies have repeatedly sought to have Lisa, S.A.’s dividends declared expired. Courts rejected these claims, noting that the companies never established a valid method of payment, that Lisa’s actions interrupted any prescriptive period, and that corporate barriers—including embargoes imposed by the same companies—made payment impossible. Judges consistently ruled in Lisa’s favor, finding these claims unfounded or abusive and confirming that declared dividends cannot expire under such circumstances.

Since 2021, the Avícola Villalobos Group companies have filed abuse-of-rights claims alleging that Lisa, S.A. misused legal mechanisms. Courts dismissed these claims for lack of evidence, confirmed that Lisa acted within the law, and ordered costs against the plaintiffs. Several cases have now been dismissed at every level of review, including by the Supreme Court of Guatemala. The record shows that these claims were attempts to undermine Lisa’s legitimate legal actions, and Lisa has prevailed in every case that has reached a final decision.

Since 2011, the Avícola Villalobos Group companies have attempted to exclude Lisa, S.A. as a shareholder without compensation, relying on defective resolutions aimed at stripping Lisa of its economic rights. Courts consistently ruled in Lisa’s favor, finding that the attempted exclusions violated corporate law due to missed statutory deadlines, lack of due process, and the absence of any valid cause. Appeals and constitutional challenges likewise failed, with higher courts confirming that Lisa acted promptly and that all procedural defects were attributable to the companies themselves. Lisa has successfully opposed these exclusion attempts and continues to assert its lawful shareholder status.

Guatemalan courts have admitted BDT Investments Inc. as an intervening third party in lawsuits involving Lisa, S.A. Lisa’s shares and litigation rights were lawfully transferred to BDT through a settlement agreement later confirmed by the Supreme Court of Panama. Challenges raised by the Avícola Villalobos Group companies to prevent BDT’s participation have been consistently rejected, and the courts have affirmed that BDT’s procedural standing is legally firm and fully recognized, despite the companies’ refusal to accept it.

The Supreme Court of Bermuda found that Multi Inversiones and members of the Bosch-Gutierrez and Gutierrez-Mayorga families diverted millions in dividends that legally belonged to Lisa, S.A. Using offshore structures such as Leamington Reinsurance Ltd., they excluded Lisa despite its one-third ownership of the Avicola Villalobos Group. The Court confirmed the misappropriation and awarded Lisa over 1.9 million dollars.

WIPO rejected Avícola Villalobos and CMI’s attempt to shut down casoavicola.com, ruling that the website’s publication of public court documents was a legitimate exercise of transparency and not an act of bad faith.