A corporate dispute like no other

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A corporate dispute like no other

Today was supposed to be the day of the first hearing by the Commission on Appointments on the nominee for Secretary of the Department of Environment and Natural Resources. An interesting nominee who, on one hand, says what she does is what is right and she doesn’t care about being confirmed, and on the other has been doing media rounds and social media rounds and visiting legislators for purposes of... confirmation!

Oh... and going around town - to a Rotary meeting to say that Congressmen have been bribed P50 million to reject her only to backtrack and say she has no proof she was just told that and she didn’t mean to accuse anyone.

Ano daw?

But since the Senate had to reorganize the hearing has to be postponed so I have nothing to write about.

Or so I thought until I stumbled upon a lawsuit filed in Makati last Monday by Mercedes Zobel and three others against a Frenchman named Jean Philippe Henry, or JPH or JP for short.

Lawsuits (plural) actually, ranging from falsification of documents to syndicated estafa.

There’s even a qualified theft complaint filed with the National Bureau of Investigation!!

The company involved is EcoGlobal Inc., which started off as JPH Smelting in 2012. Along the way it changed its name, gave birth to a sister foundation, got investments from Mercedes Zobel and found itself in swank offices at Ayala Tower.

I should know. I’ve been to those offices. I’ve even met with JP when he accompanied Ms. Zobel to Rio Tuba two years ago. He was even plugging the idea of putting up a bamboo farm as wastewater treatment for the mine, which we didn’t need as we were always within DENR standards - attested to by no other than the DENR secretary-designate herself who has called Rio Tuba a “model”.

JP always talked bamboo. But I digress.

The falsification case is connected with EcoGlobal as a renewable energy and wastewater treatment company. Apparently JP needed funds to get the ball rolling, and Dedes Zobel provided him cash advances in exchange for 10% of the company.

But when EcoGlobal applied for a Renewable Energy Service Contract (RESC) from the Department of Energy, EcoGlobal needed to present itself not only as having a 60-40 Filipino-foreign ownership structure, but having as its Filipino partner someone solid.

Well, one solid name is Zobel. Far more solid than even, say, Lopez. The latter counts its money in billions of pesos, the former, in billions of dollars. Just ask Forbes...

Anyway, so apparently Mr. Henry or someone else had the bright idea of letting the DoE know that EcoGlobal was 60% owned by Mercedes Urquijo Zobel.

Eventually, the RESC was granted.

The problem with Dedes Zobel is this - rather than using the false claim that she owns 60% to wrest control of the company, she does the honorable thing of filing a falsification charge to say no, I only own 10%. But this in the process raises questions. If Zobel doesn’t own 60% and only 10% of EcoGlobal’s Filipino equity, who owns the 50% Filipino equity? Do these people have the capacity to actually own the 50%?

In short is the 60-40 ownership requirement imposed by the Constitution itself being violated here?

Interestingly yesterday afternoon there was a press conference at the DENR with the secretary-designate presenting the very same Jean Philippe Henry and his rehabilitation proposal for the Pasig River to the media and to the rest of the Philippines.

I didn’t get to see the press conference in full because I had important things to do, but I will try to find it on YouTube to see what the Madam had to say about JP and EcoGlobal.

And maybe about bamboo as well?

Last time I checked with the SEC, EcoGlobal no longer holds offices at Ayala Tower. And it has a new president in the person of Nicanor Perlas III, as per a General Information Sheet filing made by the company’s legal counsels on Feb. 24. Now that makes it even more interesting, yes?

Trust me. This case is in many ways one like no other.

Basketball

  • MALIKSI tops Tenorio and Romeo to win PBA 3-Point Contest 2017

    By Elishah Pangilinan

    STAR Hotshots Allein Maliksi  has overthrow Ginkings favorite L.A Tenorio  and dethroned GlobalPort's Terrence Romeo as the PBA  All-Star 3-point contest champion.

  • ’17 PBA All-Star Game action shifts to Lucena

    FOLLOWING a successful leg in Mindanao on Wednesday, the week-long Philippine Basketball Association (PBA) All-Star Game festivities swing back to Luzon for the second stop today in Lucena, Quezon.

    Taking place at the Quezon Convention Center, it is now time for the Luzon All-Stars to test the Gilas Pilipinas pool, which is preparing for the Southeast Asian Basketball Championship next month, in the main event.

Model of the Month

Canada

Moving in 2017
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VANCOUVER, CANADA -  The new year always brings new hope, opportunities, and changes. “Move” looks like the theme of 2017.

In Vancouver, British Columbia, Filipinos and Canadians make their new year’s resolutions and express their hopes for the year of the fire rooster.

OPM star Joey Albert who is now based in Canada prays for more concerts in Manila and more quality time for her two daughters who are both athletes.

Read more ...
Basketball for Christmas

The Knights of Columbus (Kof C) of the Don Bosco Council 10277 - Our Lady of Good Council Church Surrey BC celebrated Christmas in an exciting and enjoyable way – by playing basketball.

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Pinoys play b-ball in Canada

 VANCOUVER, CANADA-   One of the Filipinos’ favorite sports is basketball. And Filipinos in Canada are no different.

                In the recently concluded ICSA Filipino Basketball League in Vancouver, the Sto. Nino team successfully defended their title against Ron’s team 47-40, cementing their legacy as one of the most successful Filipino basketball teams in Vancouver.

“It is a satisfying victory,” said team manager and coach Michael Castro.

Read more ...

Boxing

  • Arum moving Crawford & Bradley to Showtime?

    Top Rank promoter Bob Arum is interested in moving several of his top fighters – Terence Crawford, Vasyl Lomachenko and Tim Bradley – to Showtime Boxing in order to get them fight dates. According to Arum, HBO doesn’t have the available budget to get fight dates for all of these guys.

  • Terence Crawford dominates Viktor Postol

    THIS is a match-up of the highest calibre. After winning a world title at lightweight against Ricky Burns, and subsequently defending in style against Yuriorkis Gamboa and Ray Beltran, Terence Crawford stepped up to super-lightweight to win the WBO title there.

MMA

  • WSOF GLOBAL MMA FIGHTER FROM GENSAN MARIO SISMUNDO, MORE THAN JUST MANNY PACQUIAO’S DOPPELGÄNGER

    SISMUNDO READY FOR THE BIGGEST FIGHT OF HIS LIFE ON JULY 30 

    AT SMART ARANETA COLISEUM

    ONE LUCKY TICKET HOLDER ON JULY 30 WILL WIN ONE MILLION PESOS

    TICKETS ARE NOW AVAILABLE AT TICKETNET.COM.PH

    19 July 2016 - MANILA: Mario Sismundo, who will fight on July 30 for the World Series of Fighting Global Championship 3: Philippines vs. the World card at the Smart Araneta Coliseum, says that he is more than just Manny Pacquiao’s doppelgänger.

    Mario, who once doubled for Manny Pacquiao for a TV commercial, and also hails from General Santos City, also has plans of his own to be a world-renowned fighter.   

    The resemblance is striking, in fact, when he trains at Fitbox Gym in Makati, he is often mistaken as Manny Pacquiao.

    Sismundo says, “Sobrang na inspire ako na kamukha ko si Manny Pacquiao kasi yung kamukha ko o kahawig ko ay di ordinaryong tao, kungdi, sikat sa buong mundo dahil sa kanyang galing sa boxing, at isa pa siyang Senador ngayon.  Baka sa pagtiyatiyaga at sipag sa mga laban ko, isang araw, masundan ko rin ang yapak ng idolo ko.”

    Sismundo continues, “Malaking bagay na nakasali ako sa ganitong kalaking organization, na galing pating Amerika.  Tulad sa akin, na galing sa General Santos City na matagal nang naghintay ng pagkakataon makalaban sa malaking audience, malaking bagay po talaga.  Matagal ko po itong pinangarap at dinasal.”

    This will be Mario Sismundo’s biggest fight in his entire boxing and MMA career, fighting for the first time in a 15,000-seater stadium in Quezon City, alongside fighters from all over the world.

    Sismundo says that his family, specially his father, has been supportive of his career all this time.  

    It is bittersweet though that at the biggest fight of his life, wherein his fight will be the co-main event on July 30, that his father won’t be able to watch it since he passed away just weeks ago. 

    “Sa pinakamalaking laban ng buhay ko, na matagal niyang hinintay, wala na siya…pero hindi iyon hadlang para ako manghina o mawalan ng gana lumaban, bagkos, lalo ko pang pag-iigihan ang training ko para manalo sa laban na ito, dahil inaalay ko sa kanya ang laban na ito”, Sismundo says.

    “At alam ko kahit wala na ang aking ama, manonood siya kahit nasa ibang mundo na siya”, adds Sismundo.

    WSOF-GC will host WSOF-GC 3 Philippines at Smart Araneta Coliseum on July 30, 2016. Tickets start at PHP300 with ringside seats available for PHP4000. Tickets are now on sale at http://www.etix.com/ticket/p/2988982/wsof-global-championship-3philippines-quezon-city-smart-araneta-coliseum. Smart Araneta Coliseum has been host to many great events over the years, but is most notably known for Ali vs Frazier III ‘The Thrilla in Manila’.

  • Dana White responds to 'biggest dirtbag in all of sports,' Bob Arum: I look forward to continuing to kick his ass

    Top Rank Boxing CEO Bob Arum recently took a handful of swipes at the UFC, claiming not only that the promotion is paying off lobbyists to avoid added government regulation but also that drug use in the sport far outweighed that of boxing.

Sports Bisaya

  • Blue girls beat Czechs

    The Philippines' Blu Girls  Softball Team beat strong opponent Czech Republic to remain in the top 16.

    The team is in Surrey, BC to compete against 30 other counties.

  • SI BUTLER O RUSSELL SA TIMBERWOLVES? CONGRATS HANNAH SAJULGA

    Ni Daniel Quindao Guden 

     

    Maple Grove City, Minnesota - DUHA ka mga NBA players ang gipili-an si Jimmy Butler o si D'Angelo Russell, kini ang gitutokan karon pag-ayo ni Tom "Thibs" Thibodeau ang bag-ong head coach ug president sa Basketball Operations sa Minnesota Timberwolves.

    Sa ni-aging semana nagbansiwag sa mga Mantalaan sa Minnesota State ug Online news ang taho nga si Chicago Bulls guard/forward Butler ang gitinguha sa Timberwolves management nga mahitapo sa Land of Ten Thousand Lakes Minnesota team bugti sa no. 5 overall pick sa rookie drafting sunod semana.

Lifestyle

  • Nazal is new Rotary Prexy

    By Robbie Pangilinan

    Robert Gerard Nazal II, president of YSA Skin Care Corporation, is the new President of Rotary Club of Sta. Mesa, Quezon City. He will assume leadership following the awards night at the One Shangri-la Place, Ortigas on July 27.

  • Sangyaw was a success
    By Robbie Pangilinan
    Tacloban City’s celebration of its 127th Sangyaw Festival was a success.

    The month-long festivities capped off with the inauguration and oathtaking of Mayor-elect Cristina Gonzales-Romualdez and the members of the local city government on June 30.