The Meralco Takeover

Meralco denies CA justice's bribery charge

The Manila Electric Co. (Meralco) on Thursday dismissed allegations it attempted to bribe a Court of Appeals (CA) magistrate to withdraw from handling the shareholder case involving the distribution utility and the Government Service Insurance System (GSIS).

"We never engage in illegal activities, never have been, never will. We adhere to the rule of law and we belie his statement," said Meralco spokesman Elpidio Cuna, referring to newspaper reports about CA Associate Justice Jose Sabio's claims.
 

GSIS asks SC to step into row with Meralco

The Government Service Insurance System wants the Supreme Court to step into the dispute in the Court of Appeals among justices claiming jurisdiction over a case involving the GSIS and Manila Electric Co. (Meralco).

GSIS chief legal counsel Estrella Elamparo said the protest by two appellate court justices over the manner by which the case ended up being decided by a division other than the one that originally heard it showed there was a serious problem in the Court of Appeals.

The case stemmed from a Meralco petition to void a Securities and Exchange Commission (SEC) order blocking the election of Meralco directors during a stockholders meeting last May. The SEC order was issued upon the plea of the GSIS.
 

Lopez says it’s as if Marcos never left ‘ABS-CBN is the real target, not Meralco’

The patriarch of the Lopez family Tuesday came out swinging at the Arroyo administration and its officials, saying that with what had been happening, it was as though Ferdinand Marcos’ dictatorship had not ended.

Oscar M. Lopez, who chairs Manila Electric Co., also accused Winston Garcia, president and general manager of the Government Service Insurance System, of trying to orchestrate a takeover of the Lopez family’s flagship firm in a “reverse privatization.”
 

Vilifying Judy Ann Santos

If the controversy on electric power rates maintains its current direction, it will end up being a show business affair.

The showbiz flavor to the controversy started with actress Judy Ann Santos’ pitch for the Manila Electric Co.’s definition of systems losses. Santos’ advertorial drew the ire of the Government Service Insurance System and its allies. She must be feeling the heat of the backlash against her pro-Meralco pitch.

And the backlash is probably more painful than the slaps in the face she used to get from on-screen rival Gladys Reyes.

Last Updated ( Friday, 13 June 2008 09:20 )
 

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