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Corporate Meetings Made More Convenient Through Remote Communication or in Absentia

As we begin a new year, most corporations would have to go through the usual process of electing their directors or trustees and officers. Previously, meetings were mostly in-person, but such proved to be difficult, if not unsafe, given the pandemic and the prohibition of large in-person gatherings that came with it.

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The Proposed Internet Transactions Act and the Uncertainties in Online Retail

Online retail and other e-commerce services are now a mainstay of Philippine commerce. The exponential rise and consequent prevalence of online purchases are partly due to the COVID-19 pandemic lockdowns that have constrained the everyday consumer to stay at home. This holiday season, Shopee, an e-commerce platform, reported that its “12.12” Christmas sale broke records with around 12 million products sold in the first 24 minutes of the sale.

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Code of Ethics for Professional Accountants

Eric R. Recalde was a speaker at the Metro Manila Ethics & Leadership Summit Joint Quarterly Membership Meeting and Professional Fair organized by the Philippine Institute of Public Accountants (“PICPA”). The event’s theme was “Traversing the New Landscape with Stronger Ethical and Leadership Foundation”. It was held last 10 December 2020.

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ACCRALAW as Joint Lead Arrangers and Bookrunners’ Counsel for UnionBank’s Dual-Tranche Peso-Denominated Bond Issuance

ACCRALAW acted as counsel to the joint lead managers (“JLMs”), The Hongkong and Shanghai Banking Corporation Limited and Standard Chartered Bank in connection with the issuance by UnionBank of the Philippines of Php9 Billion Peso-denominated fixed rate bonds via a dual tranche offering. The 3-year tranche carries a fixed coupon rate of 2.750% while the 5.25-year tranche carries an interest rate of 3.375%. This is the third bond issuance by UnionBank under its ₱39 Billion Bonds Program and the first dual-tranche offering issued under the BSP Circular No. 1010 on bank-issued bonds. The bonds were listed with the Philippine Dealing & Exchange Corp. (“PDEx”) on 9 December 2020.

ACCRALAW as Joint Lead Arrangers and Bookrunners’ Counsel for UnionBank’s Dual-Tranche Peso-Denominated Bond Issuance Read More »

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