Bosch confirms sequestration implemented, assumes judicial depositary obligations over Lisa's dividends
Nov 25 2008
Villamorey, S.A.
Less than a month after the Eleventh Circuit Civil Court issued Order No. 1624-08 decreeing sequestration against Lisa, S.A., Juan Luis Bosch Gutiérrez addressed this official notice to the court on behalf of Villamorey, S.A., confirming that the board of directors had taken the necessary steps to implement the order and that the retained dividends were at the court's disposal.
The notice establishes two facts with lasting legal consequences. First, Bosch Gutiérrez confirms that Villamorey, S.A. implemented the precautionary measure decreed in Order No. 1624-08, communicated through Official Communication No. 1542-08/Sec. 7081-08 of October 27, 2008. Second, he expressly declares that the retentions corresponding to the dividends declared in favor of Lisa, S.A. are available to the court at any time it may require them.
"Las retenciones que corresponden a la medida cautelar decretada en cuanto a las sumas de dinero en concepto de dividendos declarados que tenga derecho Lisa, S.A. están a disposición de este Tribunal, en cualquier momento que lo requiera." (Page 1)
This communication constituted Bosch Gutiérrez as judicial depositary of Lisa, S.A.'s dividends under Article 536(4) of the Judicial Code. By acknowledging in writing both the existence of the retained funds and their availability to the court, Bosch Gutiérrez assumed legal obligations of custody, accounting, and restitution.
The notice proved decisive at two subsequent junctures in the proceeding. In December 2018, Order No. 2277-2018 cited this note as evidence of the existence and availability of the retained dividends when ordering the $894,718.00 judgment extinguished by set-off, rather than proceeding to auction Lisa, S.A.'s shares. In February 2025, Lisa, S.A. grounded its petitions for return of retained funds and civil contempt precisely in the obligations Bosch Gutiérrez assumed through this document, noting that since November 2008 the depositary had never appeared before the court to render accounts or report on the status of the funds.