Order 283

Through Order No. 283/14606-21, the Fourth Circuit Civil Court of the First Judicial Circuit of Panama admitted the summary accounting action filed by Lisa, S.A. against Villamorey, S.A. The court verified that Lisa submitted the required documentation to establish the existence and legal representation of the defendant corporation, including a Public Registry certification and an authenticated copy of Public Deed No. 3514 of February 28, 2000, which protocolized Villamorey's certificate of incorporation.

The court found that Lisa, as the owner of 33.33% of Villamorey's share capital, has the right to demand that the corporation render an accounting of its management in accordance with its own corporate bylaws. The order granted Villamorey one month from notification to present the accounting. The law firm Grimas & Grimas was recognized as counsel for the plaintiff.

Villamorey did not comply with this order within the prescribed period. More than a year later, the same court issued Order No. 463 of April 8, 2022, declaring Villamorey in contempt and imposing daily fines of $100.00 for its refusal to appear and render accounts.

Ruling

• Admitted the summary accounting action filed by Lisa, S.A. against Villamorey, S.A.
• Granted Villamorey, S.A. a period of one month to render the accounting, counted from notification of the order

Legal Basis

• Articles 1379 and 1380 of the Judicial Code — govern the summary accounting procedure in Panamanian civil jurisdiction

Signatories

• Mgter. Solange Le Ferrec de Booker, Fourth Circuit Civil Judge
• Lcdo. Miguel Angel Quiroz, Judicial Secretary