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Point of Law

The following articles were written by Francisco Ed. Lim and also published in The Philippine Daily Inquirer.

August 10, 2017

The affable lefty golfer Phil Mickelson is a risk taker in golf. Avid golfers can recall Mickelson’s drive on the 13th hole at Augusta National in the final round of the 2010 Masters that settled on pine straw. Mickelson fired a 6-iron between two trees and the ball landed on the green, setting up a birdie that gave him his third green jacket. Mickelson’s risk-taking did not end in golf. He... Read More

July 27, 2017

President Duterte’s ambitious infrastructure plan, dubbed the “Build, Build, Build” program, has attracted significant interest from investors. Sometimes, we even see known competitors joining forces to build a project. An example is the LRT-1 Cavite Extension Project, which is being constructed by a consortium composed of Metro Pacific Light Railway Corp. led by the group of Manuel V.... Read More

June 24, 2017

In a recent column, I wrote about the decision of the Supreme Court in Roy vs. Herbosa (G.R. No. 207246, November 22, 2016) where it settled, with finality, that the term “capital” under Section 11 Article XII of the 1987 Constitution only “refers to the voting stock or controlling interest of a corporation”—no more, no less. The Roy case stemmed from a statement in its predecessor case, Gamboa... Read More

May 25, 2017

The Supreme Court affirmed with finality its decision dated Nov. 22, 2016 in “Roy v. Herbosa, et. al.” which declared SEC Memorandum Circular No. 8 or the “Guidelines on Compliance with the Filipino-Foreign Ownership Requirements Prescribed in the Constitution and/or Existing Laws by Corporations Engaged in Nationalized and Partly Nationalized Activities,” valid and consistent with its decision... Read More

April 27, 2017

Sometimes, companies with expiring corporate terms fail to timely apply for an extension with the Securities and Exchange Commission (SEC). In some instances, they do initiate the process of extension by getting the requisite board and stockholders’ approval for amendment of their articles of incorporation but for one reason or another, they fail to go to the SEC before the deadline. A case in... Read More

March 30, 2017

The January 2017 resolution of the Supreme Court (SC) settled the controversy involving the PEACe (Poverty Eradication and Alleviation Certificates) bonds and resolved the propriety of subjecting the P24.3-billion discount to 20-percent final withholding tax of around P4.9 billion. The Bureau of Internal Revenue issued two rulings a few days prior to the bonds’ maturity in 2011, asserting that... Read More

February 09, 2017

When I was president of the Philippine Stock Exchange, I pushed for the enactment of several laws, which were meant to boost the economy and develop our capital markets. These bills, authored by the Angara father-and-son tandem in Congress, are now part of the law of the land. Among these were the Personal Retirement Account Act under RA 9505 (Peraa), Real Estate Investment Trust Act under RA... Read More

January 30, 2017

The controversy on the Social Security System (SSS) pension hike highlights the predicament that many retired pensioners face: the struggle to make do with so little in exchange for paying so much. The amount of the  retirement benefits simply could not catch  up with the rising cost of living. The initial increase of P1,000 per month in pension mandated by President Duterte, albeit... Read More

December 15, 2016

As we close the calendar year, many organizations run through the annual twin rituals of self-examination and planning.  For organizations which follow the calendar year as their fiscal year, this is a time for reflection—of the year that has passed, judging success (or the lack thereof) based on pre-agreed metrics, and planning for the new year.   In business management, we... Read More

November 17, 2016

If a micro, small or medium enterprise (MSME) runs into a financial problem, is there a mechanism that it can use to get back on its feet?   The question is important because MSMEs play an important role in our economy.  Based on the 2014 data of the Philippine Statistics Authority, MSMEs accounted for 99.6 percent of total registered enterprises, employing millions of... Read More

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