F4’s four legal options

0
259

BACOLOD CITY – The “Fantastic Four” faction of the wealthy Yanson clan has four legal options following their courtroom defeat, the latest in the ongoing intra-corporate dispute that has alternated from boardrooms to court salas to terminals over the past few months.

Buses of the Ceres Liner, the source of wealth of the Yanson empire on wheels. | Photo by Jose Aaron C. Abinosa
Buses of the Ceres Liner, the source of wealth of the Yanson empire on wheels. | Photo by Jose Aaron C. Abinosa

Lawyer Raul Bitoon, who coined the description for his clients, said the team of the F4’s Manila-based counsel, Sigfrid Fortun, are studying the four options.

“While we do not agree with the decision of the Court, we fully respect and defer to it, and we maintain our trust in the justice system,” Bitoon told DNX.

These options, he said are: the filing of a motion for reconsideration before Branch 45, an appeal before the Court of Appeals,

an appeal directly to the Supreme Court under Rule 45 or appeal by certiorari or the filing of a new petition to nullify the results of the “sham” August 19 stockholders meeting.

Bitoon pointed out that Balbin’s decision did not touch on the merits of the August 19 meeting but dealt mainly with technicalities.

Balbin cited two grounds for her order (click for related story here).

A certiorari, according to the Cornell Law School, seeks to ask the Supreme Court to review a lower court’s judgment.

Bitoon sounded optimistic about their options as he said that when they filed the petition, the August 19 meeting had not yet taken place.

He said the so-calked stockholders meeting that resulted in the election of Leo Rey as president, Charles Dumancas, an in-law, as vice-president, and Ginette Yanson, Dumancas’ wife, as treasurer. The matriarch, Olivia, was also elected as a member of the board.

The F4 lawyer questioned the meeting, saying those who attended the August 19 meeting hold “only 38 percent” of the total shares of stocks.

His clients, on the other hand, hold 68 percent or majority of the shares, he added.

Leave a Reply