News & Updates

Upon the invitation of the University of the Philippines (UP) College of Engineering, ACCRALAW Senior Partner Patricia-Ann T. Prodigalidad and Partner Chrysilla Carissa P. Bautista joined the panel on “Forensic Engineering and Litigation”. Ms. Prodigalidad and Ms. Bautista currently teach Evidence and Criminal Procedure, respectively, in the UP College of Law. Also in the panel is Atty. Sandra Olaso-Coronel, a fellow faculty from the UP College of Law.

ACCRALAW assisted Ayala Land, Inc. (ALI) in the first real estate investment trust (REIT) offering in the Philippines and acted as Philippine counsel to AREIT, Inc. (AREIT) in its initial public offering of 456,883,000 common shares, with an overallotment option of 45,688,700 common shares. On 13 August 2020, AREIT’s shares were listed on The Philippine Stock Exchange, Inc.

On 20 November 2020, Asian Legal Business (ALB) held its 5th Annual Philippine Law Awards virtually.

ACCRALAW was awarded Philippine Law Firm of the Year for the third consecutive year.

Despite the challenges faced by the legal and business sectors due to the current health crisis, ACCRALAW has been relentless in its pursuit to address the growing and changing needs of its clients. It has reaped the gains of investing in its legal complement and technological enhancements.

Eric R. Recalde, Partner and Head of the Firm’s Tax Department, launched his latest book entitled “The Laws on Credit, Secured Transactions and Insolvency”. He co-authored this book with his wife, Marie Tanya Z. Recalde. The virtual book launch was coupled with a webinar on the salient topics of their book. It was held online last 14 November 2020.

ACCRALAW Partner and Head of the Firm’s Tax Department Eric R. Recalde delivered a series of lectures focused on the recent developments on the Laws on Credit, Secured Transactions and Insolvency and shared his insights on the remedies under the Financial Rehabilitation and Insolvency Act (FRIA) to businesses disrupted by the CoVID-19 Pandemic.

ACCRALAW acted as Philippine counsel to the underwriters for the initial public offering (IPO) of Converge Information and Communications Technology Solutions, Inc. (Converge). The Converge IPO is the largest IPO in the Philippines since 2016 raising Php 25.3 Billion. Converge is the largest high-speed fixed broadband operator in the Philippines and the only pure-play high-speed fixed broadband provider, with an exclusive focus on serving the Philippine fixed broadband market.

ACCRALAW advised Thailand’s Bank of Ayudha, commonly known as Krungsri, in its acquisition of a 50% stake in SB Finance Company, Inc. (SBF), Security Bank’s consumer finance subsidiary.

ACCRALAW Partner Andre B. Navato was one of the resource speakers at the webinar entitled, “Deal-making in a Pandemic: An Update from Asia” held last 22 October 2020. Mr. Navato shared his insights on how to navigate around the challenges brought about by the pandemic in deal-making. He also talked about his views on the current state of investment opportunities in the Philippines.

ACCRALAW Of Counsel Teresita J. Herbosa and Partner Eric R. Recalde participated as speakers in the webinar entitled “APAC: Developments on Philippine Competition Law and the Revised Corporation Code” held last 21 October 2020. The webinar was hosted by the Association of Corporate Counsel (ACC).

ACCRALAW acted as Philippine counsel to the joint lead managers and bookrunners (“JLMs”), Standard Chartered Bank, Citigroup Global Markets Limited and MUFG Securities Asia Limited in connection with the issuance by UnionBank of the Philippines of US$300 million senior unsecured notes (Notes) under its US$2 Billion Medium Term Notes Program. The Notes, rated Baa2 (Stable) by Moody’s, were issued at an aggregate principal amount of US$300 million and carries a fixed coupon rate of 2.125% p.a. payable semi-annually. It was listed on the Singapore Exchange Securities Trading Limited in October 2020.