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.
US Justice Department officials Tuesday accused Standard & Poor’s of fraud for inflating the ratings of mortgage bonds before the 2008 crisis, costing federally insured institutions at least $5 billion in losses.
The US Justice Department plans to sue Standard & Poor’s over its rating of mortgage bonds prior to the 2008 financial crisis, S&P said Monday.
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.
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.
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.
The Court of Appeals (CA) has ordered the country’s telecommunications firms to ditch their per-minute charging scheme for voice calls and start charging their subscribers on six-second “pulses,” giving users more value for their money.
The Dipolog Regional Trial Court (RTC) has set a “judicial trend” in ruling against a ban on open-pit mining and this might eventually help resolve the constitutionality issue on other ordinances banning open pit mining, such as the one in South Cotabato, former presidential adviser on Mindanao affairs Jess Dureza said in a statement.
The Intellectual Property Office of the Philippines (IPOPHL) expects by end of August the Supreme Court’s issuance of special rules that will facilitate the resolution of cases of intellectual property rights violations. In an interview, IPOPHL director general Ricardo Blancaflor said that while the draft rules had been sitting with the high tribunal for more [...]
Forcing foreign shareholders to divest a significant portion of PLDT common shares could wreak havoc on the company’s financial health as well as that of the local capital market, company chairperson Manuel V. Pangilinan said on the sidelines of the Philex Mining Corp. stockholders meeting.
