Claims Over Dividend Prescription by Avícola Las Margaritas
C. 01046-2022-00986 • Fifth Civil Court • Guatemala
Claims Over Dividend Prescription by Avícola Las Margaritas
This is a summary mercantile action filed by Avícola Las Margaritas, S.A. (as successor to Importadora de Alimentos de Guatemala, S.A.) against Lisa, S.A., seeking a declaration of extinctive prescription over dividends approved at the June 10, 2014 shareholders’ meeting of Importadora de Alimentos de Guatemala, S.A.
Decisions
Whether the claimed dividends (June 10, 2014 assembly) were time-barred by prescription.
The court dismissed the summary prescripción claim against Lisa (sin lugar) and upheld Lisa’s defenses, including lack of exigibility, lack of free disposition, third-party measures, and interruption of prescription; costs against the losing party.
Lisa prevailed at trial; the prescripción demand was denied.
Court dismissed dividend case by Las Margaritas
Appeal by Avícola Las Margaritas challenging the trial judgment that dismissed its claim and accepted multiple defenses.
The Court partially granted Avícola’s appeal, but still kept the claim dismissed. It (i) again declared “sin lugar” the prescripción suit, (ii) annulled several Lisa defenses (lack of exigibility, lack of free disposition, third-party measures, interruption), (iii) kept Lisa’s negative answer and “falta de veracidad” exception, and (iv) waived costs in the instance.
The dismissal of the claim stood, while Lisa’s defense grounds were narrowed on appeal.
Court of Appeals dismissed appeal by Las Margaritas
Avícola Las Margaritas alleged incorrect application and non-application of Commercial Code provisions governing dividend enforceability and prescription.
The Supreme Court dismissed the cassation appeal, holding that the Court of Appeals correctly applied Articles 132 and 669 of the Commercial Code, that Article 675 was not applicable, and that the dividend obligation was not immediately enforceable because the board of directors never set a payment date. Costs and a statutory fine were imposed on the appellant.
The final challenge failed; cassation was dismissed, fully consolidating Lisa’s victory.
Rejects prescription claim on dividends
Conclusion
The extinctive-prescription action brought by Avícola Las Margaritas, S.A. against Lisa, S.A. has been definitively rejected at all judicial levels. Trial and appellate courts determined that the 2014 dividend decree was not immediately enforceable because payment timing was delegated to the company’s administration, preventing the prescription period from running. In October 2025, the Supreme Court dismissed cassation, confirming that the dividends are not extinguished by prescription and consolidating Lisa’s position.