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Point of Law

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

October 05, 2017

Today, Oct. 5, the world celebrates World Teachers’ Day per the declaration of the United Nations Educational, Scientific and Cultural Organization (Unesco) in 1994.   I have given accolades to my teachers in the past and this time I write on the thoughts of my four children about them.   Although they gave different reasons, they all said they considered... Read More

September 21, 2017

Last August 31, the Shareholders’ Association of the Philippines (SharePHIL) held its 4th annual summit at the Dusit Hotel in Makati City.   The summit featured the famous brothers of the Ayala Group, Jaime Augusto and Fernando Zobel de Ayala.   The occasion was a rare feat for any organization: It was the first time the Zobel brothers spoke jointly as... Read More

September 07, 2017

Through the years, the Bureau of Customs (BOC) has earned for itself a bad reputation. Many times, it has topped the Social Weather Stations (SWS) surveys either as the most corrupt government agency or the least sincere in fighting corruption. Indeed, a perusal of broadsheet headlines in the last few years would readily reveal that the agency has been embroiled in many scandals: Rice smuggling... Read More

August 24, 2017

Marital or spousal privilege is a term used in the law of evidence to describe two separate privileges: testimonial privilege and communication privilege. In the Philippines, testimonial privilege is enshrined in Section 22 of Rule 130 (Rules of Court), which provides that “[d]uring their marriage, neither the husband nor the wife may testify for or against the other without the consent of the... Read More

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

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