Claims Over Dividend Prescription by Inversiones Torre Nova
Inversiones Torre Nova, S.A.
C. 01049-2022-00243
Summary
This is a summary civil lawsuit filed by Inversiones Torre Nova, S.A. against Lisa, S.A., seeking to declare the prescription of dividends decreed in 2016 for the fiscal year 2015. Lisa raised preliminary objections, invoking an arbitration clause in the company’s charter and arguing that existing embargoes prevented the claim from proceeding.
Decisions
Preliminary objections by Lisa: (a) lack of jurisdiction due to arbitration clause, (b) impossibility of payment because of embargoes on dividends.
The Court upheld the objection of lack of jurisdiction due to arbitration, declared the case inadmissible in civil court, and ordered the parties to resolve the dispute through arbitration. The objection on embargoes was not addressed.
The Court declined jurisdiction and referred the dispute to arbitration, ordering costs against the plaintiff.
Conclusion
Lisa, S.A. prevailed. The Sixth First Instance Civil Court upheld Lisa’s objection of lack of jurisdiction based on the arbitration clause in Inversiones Torre Nova’s charter. The Court ruled that the case must be referred to arbitration and ordered the plaintiff to pay costs. The objection regarding embargoes was not addressed because the arbitration objection was decisive.