BDT Investments Inc. Acquires Lisa S.A.’s Rights and Shares
Summary
The enforcement case filed by BDT Investments Inc. against Lisa, S.A. led to a $19.18 million embargo on Lisa’s shares, dividends, and bank accounts starting in 2012. In 2022, the Panamanian courts approved a settlement agreement between the parties, resulting in the lifting of the embargo in 2024–2025.
Despite the court’s approval, BDT has faced continued difficulties accessing the funds, prompting new motions in 2025 to compel GTC Bank in Guatemala and Villamorey, S.A. to comply with the final order and disclose the status of the $19 million held on behalf of Lisa, S.A.
Timeline
Court embargoed Lisa’s shares and dividends
Panama court authorizes embargo of Lisa’s shares and dividends in favor of BDT for $19.18 million.
Court approved settlement between BDT and Lisa
Panama court approves 2020 out-of-court settlement between BDT and Lisa in debt enforcement case.
Superior Court confirmed BDT–Lisa settlement
Panama Superior Court confirms approval of 2020 BDT–Lisa settlement in enforcement action.
Eleventh Civil Court notified of lifted embargo
The Twelfth Civil Court formally notified the Eleventh Civil Court that a $19.18 million embargo on Lisa, S.A. was lifted following a court-approved settlement with BDT Investment.
Court notified Villamorey of lifted embargo
Court informs Villamorey that the $19.18M embargo on Lisa’s funds has been lifted following settlement approval.
Court ordered banks to lift embargo on Lisa
Court orders banks to release Lisa’s frozen funds following settlement approval.
Rogatory letter requested to lift embargo in Guatemala
Parties jointly request court to issue a rogatory letter to lift embargo on Lisa’s shares in Guatemala.
BDT requested court to order GTC Bank to release funds
BDT requests urgent court order to GTC Bank for release of $19.18M in embargoed funds.
BDT requested GTC Bank to disclose $19M account
BDT seeks court order for GTC Bank to disclose Villamorey’s $19M account details in Guatemala.
Court requested Villamorey to explain $19M at GTC Bank
BDT asks the court to request detailed bank records from GTC Bank in Guatemala on Villamorey’s $19M account, following the lifting of the embargo on those funds.