Villamorey’s Ongoing Contempt After 2018 Judgment Setoff Upheld by Supreme Court
The Ordinary Process between LISA, S.A. and VILLAMOREY, S.A. concluded with a $894,718 judgment against LISA, executed in 2018 through compensation with dividends retained by VILLAMOREY, whose value far exceeded the judgment. This setoff was upheld as final by the Supreme Court in 2020. As of 2025, VILLAMOREY has refused to comply and continues to illegally hold tens of millions of dollars, prompting LISA to seek a contempt ruling against Juan Luis Bosch Gutiérrez, the judicial depositary.
Enforcement of $51.6M Payment Order Against Villamorey
In December 2021, the Executive Process filed by LISA, S.A. against VILLAMOREY, S.A. was admitted with an Order to Pay of $51,643,208.80. Although the defendant’s appeal had only a devolutive (non-suspensive) effect, the Judge has unlawfully stalled enforcement for over two years, refusing to execute requested embargoes. LISA, S.A. filed a Constitutional Amparo, asserting that this inaction violates the fundamental guarantees of due process (Article 32) and timely judicial protection.
BDT Investments Inc. Acquires Lisa S.A.’s Rights and Shares
The Simple Executive Process between BDT INVESTMENTS INC. and LISA, S.A. was settled and approved by court order in April 2022, confirmed by Supreme Court in September 2024, lifting the $19.18 million embargo. BDT is now pursuing recovery of these funds, allegedly held at GTC Bank Inc. through VILLAMOREY, S.A., via International Rogatory Letters to Guatemala.
BDT sues Villamorey for refusal to issue and register shares
BDT Investments Inc. sues Villamorey, S.A. for refusing to issue and register shares, obstructing recognition of its 33.33% ownership rights and preventing its full participation as a shareholder.
Lisa Sues Villamorey and Juan Luis Bosch for Damages and Losses
The Ordinary Process for Damages filed by LISA, S.A. against VILLAMOREY, S.A. and JUAN LUIS BOSCH GUTIÉRREZ, is before the First Civil Circuit Court of Panama City. The case is now in the evidentiary phase, with LISA’s evidence, counter-evidence, and objections under court review.
Bosch Withholds Over $45 Million While Evading Court Oversight
Juan Luis Bosch Gutiérrez, as court-appointed depositary, retained $44.9 million in dividends owed to Lisa, S.A. After years without an accounting, Lisa and BDT Investments Inc. filed suit to compel disclosure.
From Routine Oversight to a $44 Million Legal Battle
Lisa, S.A. demands an accounting from Villamorey, S.A. for over $44 million in withheld dividends. The case involves contempt, obstruction, and cross-border embargoes. Despite court orders, Villamorey refuses to comply, prompting further legal action.