The Philippines has had its fair share of financial fraud scandals. Only recently, in December 2021, one of the largest banks in the Philippines was hit by a cyber fraud attack by hackers who illegally transferred funds from the accounts of more than 700 of its clients.
Like other educational institutions, the University of the Philippines Law Center migrated its Paralegal Training Program online. Partner Chrysilla Carissa P. Bautista is one of the program’s lecturers. Ms. Bautista’s training module provides an introduction to criminal law and an overview of the rules on criminal procedure.
Last 17 December 2020, Partner Eric R. Recalde conducted an online talk on REIT Law, Bayanihan Laws, and CREATE Bill for one of the Firm’s long-standing clients, First Metro Investment Corporation. The virtual session was attended by investment bankers who were eager to learn and understand the impact of these special laws on the capital markets.
Chambers Asia-Pacific recently released its 2021 rankings of leading law firms and lawyers in the region. ACCRALAW is honored that Chambers Asia-Pacific continues to recognize ACCRALAW’s outstanding status in various practice areas.
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.
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.
The Philippine Bar Association (“PBA”) is the oldest voluntary national organization of lawyers in the Philippines. It was established in 1891. Among its members are lawyers of the Firm.
In the recently concluded elections of the Board of Trustees for 2020 – 2021, the Firm’s Chrysilla Carissa P. Bautista was elected as Trustee.
Real Estate Law Experts named Regis V. Puno, ACCRALAW Of Counsel, as the expert for this field in the Philippines.
ACCRALAW acted as Philippine counsel to the joint lead managers (JLMs) for AEV International Pte. Ltd.’s (AEV Intl) issuance of USD400 Million unsecured Notes. The notes are unrated, have a fixed coupon rate of 4.2% payable semi-annually and are unconditionally and irrevocably guaranteed by AEV Intl’s parent company, Aboitiz Equity Ventures, Inc. The notes are listed on the Singapore Exchange.
ACCRALAW Senior Associate Christopher Louie D. Ocampo was awarded as the Young Lawyer of the Year at the recently concluded 5th Annual Philippine Law Awards of the Asian Legal Business (ALB). He was chosen among fourteen (14) finalists who were shortlisted after a nomination and selection process.