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CA dismisses Shell’s libel complaint vs Customs collector over firm’s taxes

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SHELL BULLISH  Royal Dutch Shell, through its upstream unit Shell Philippines Exploration BV, is poised to invest another $1 billion to increase the production of the Malampaya deepwater gas-to-power project off Palawan. Shell Philippines vice president for communication Roberto S. Kanapi said there are opportunities for investment and expansion, unlike in the past when the Philippines was placed on low priority.

The Court of Appeals has dismissed the petition filed by the Pilipinas Shell Petroleum Corp. that sought to prosecute for libel a Bureau of Customs port collector who said the oil firm owed the government P7.34 billion in back taxes.

Posted: October 20th, 2013 in Latest Business Stories | Read More »

Biz Buzz: A new Melco

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Billionaires Lawrence Ho and James Packer, the top honchos of Macau gaming giant Melco Crown, are expected to fly in Wednesday for the rebranding of the group’s gaming partnership with Belle Corp. of Henry Sy.

Posted: October 9th, 2013 in Headlines | Read More »

Court of Appeals affirms ruling favoring PLDT’s preferred-to-common shares deal

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PLDT-logo

The Court of Appeals has upheld a Makati City regional trial court’s decision declaring as a nuisance or harassment suit the petition filed by former Securities and Exchange Commission (SEC) chair Perfecto Yasay Jr., questioning the move of the Philippine Long Distance Telephone Co., (PLDT) to redeem the preferred shares of its stockholders and then converting them to common shares.

Posted: September 9th, 2013 in Latest Business Stories | Read More »

CA lifts freeze order on Ongpin bank accounts

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Businessman Roberto Ongpin  INQUIRER FILE PHOTO

The Court of Appeals has lifted the five month-long freeze order on the bank accounts of businessman Roberto Ongpin and several of his co-accused in the allegedly behest loans extended to him by the Development Bank of the Philippines.

Posted: May 8th, 2013 in Latest Business Stories | Read More »

First stock broker found guilty of securities fraud fined P2M

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A TV crew reports stock princes in front of an electronic stock indicator of a securities firm in Tokyo, Monday, March 25, 2013. A last-minute package of rescue loans that saves Cyprus from a banking collapse and bankruptcy helped push Asian stock markets higher Monday. Japan's Nikkei 225 index surged 1.9 percent to 12,546.46. AP/Shizuo Kambayashi

The president of a stock brokerage house was fined P2.1 million by a Makati regional trial court after he was found guilty of defrauding his clients in violation of the Securities Regulation Code (SRC), the first conviction secured by the government almost 13 years after the law was enacted.

Posted: March 31st, 2013 in Latest Business Stories | Read More »

CA junks environment case vs Subic coal-fired power plant project

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FILE PHOTO

The Court of Appeals has dismissed the writ of kalikasan case slapped against the planned 600-megawatt coal-fired power plant of Redondo Peninsula Energy Inc. (RP Energy), effectively allowing the power firm to finally push through with the $1.28-billion project.

Posted: February 7th, 2013 in Latest Business Stories | Read More »

SC to hold oral arguments on petitions vs 1995 mining law on April 16

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The Supreme Court building in Manila. INQUIRER FILE PHOTO

The Supreme Court will hold oral arguments on the petition challenging the Philippine Mining Act of 1995 when it goes to its annual summer session in Baguio City on April 16.

Posted: January 24th, 2013 in Latest Business Stories | Read More »

SC asked to scrap TRO on installation of online lotto terminals in Luzon

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Pacific-online

Lottery equipment and service provider Pacific Online Systems Corp. has asked the Supreme Court to junk a lower court order restraining the state-owned Philippine Charity Sweepstakes Office from installing and operating any of the former’s online lottery terminals in Luzon.

Posted: December 27th, 2012 in Latest Business Stories | Read More »

Court orders liquidation of Steel Corporation to pay off creditors

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steel

The Regional Trial Court of Batangas City has ordered the liquidation of Steel Corporation of the Philippines (SCP) on grounds that rehabilitation is no longer a feasible option.

Posted: October 2nd, 2012 in Latest Business Stories | Read More »

Biz Buzz: Clean slate at DBP

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As we said earlier, what’s happening at the Securities and Exchange Commission is linked to the fortunes of the state-owned Development Bank of the Philippines, the state-owned bank that David Balangue is reported to be keen on joining in lieu of the corporate watchdog. DBP president Francisco Del Rosario Jr., after all, is set to leave by September 30, saying he’s getting older, wants to slow down and needs to avoid stress that may lead to “spondylolysis” (some defect of the vertebra).

Posted: September 9th, 2012 in Headlines | Read More »

The transformational Chief Justice

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The unprecedented removal of Chief Justice Renato Corona has generated so much interest in the search for the next Chief Justice. There were 63 potential candidates to the position. The number was finally trimmed down to 20, all of whom were subjected to public interview by the Judicial and Bar Council (JBC).

Posted: August 2nd, 2012 in Columnists,Inquirer Columns | Read More »

Court of Appeals upholds auction of Pantranco buses to rival firms

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ca

The Court of Appeals has junked for lack of merit the petition of three bus companies seeking to nullify the order of the Land Transportation Franchising and Regulatory Board (LTFRB), which allowed the sale of the franchise of the defunct Pantranco North Express Inc. to rival bus firms.

Posted: July 19th, 2012 in Latest Business Stories | Read More »

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