By: Richelle Dianne R. Patawaran on March 21, 2019
With the 2019 Philippine general election less than two months away, and with the recent passage of the Revised Corporation Code (RCC), we take this opportunity to revisit the issue of whether political contributions by corporations are allowed under the law.
By: Euney Marie J. Mata-Perez on March 14, 2019
In ranking the ease of doing business (EODB) of economies, the World Bank (WB) also evaluates a country’s protection of the interests of minority investors. In this regard, it considers two indices, namely, 1) conflicts of interest regulation, and 2) shareholders’ rights in corporate governance. Republic Act No. 112321 or the Revised Corporation Code (RCC) of the Philippines introduced several amendments and new provisions which seek to improve minority shareholder protection. These provisions should contribute to improving our country’s EODB ranking.
By: Samantha Poblacion on March 7, 2019
The past month rendered an important and interesting decision from the Philippine Competition Commission (PCC). On Feb. 12, 2019, the PCC denied the prospective acquisition by Universal Robina Corp.-Balayan (URC) of the sugarcane milling and refinery assets of Central Azucarera Don Pedro Inc. (CADPI) and its parent entity Roxas Holdings Inc. (RHI).
By: Euney Marie J. Mata-Perez on February 28, 2019
Finally, the Revised Corporation Code or Republic Act No. 112321 (RCC) was signed into law by the President on February 20, 2019 and published in the Official Gazette on Feb. 21, 2019. It will thus become effective on March 8, 2019.
The RCC is a very important piece of legislation affecting all corporations. It amended certain registration requirements, provided provisions on good governance, gave more protection clauses for minority stockholders, and most of all, defined more punishable offenses on corporations, directors and officers. The law emanated from a bill which was proposed by our regulators, and thus, was unavoidably influenced by the problems and issues they faced in regulating corporations.
By: Euney Marie J. Mata-Perez on February 21, 2019
A year ago today, we published our first article in this column, entitled “A Good Beginning” (https://mtfcounsel.com/2018/02/22/a-good-beginning). It was the beginning of a journey and, after publishing a total of 52 articles, we continue to write. We are grateful to, and we thank, The Manila Times for the opportunity.