Point of Law

On May 13, 2018, the nation mourned the loss of one of the greatest statesmen to have served the country: Sen. Edgardo J. Angara.

In the past, it was thought that only simple jobs could be replaced by technology. However, with the onset of artificial intelligence (AI), even work which requires legal analysis is about to face stiff competition.

After years of uncertainty, the Supreme Court (SC) finally laid to rest whether the Department of Justice, through its chief, may issue hold departure orders (HDOs) and watchlist orders (“WLOs”) to prevent people under investigation from leaving the country.

With the recent progress of House Bills 6027 and 6595, more popularly known as the divorce bill and same-sex marriage bill, respectively, proponents say the Philippines is set to finally join the ranks of countries that have modernized their laws on marriage and family relations.

Perjury is one of the vilest crimes that one can commit. With the stroke of a pen or slip of the tongue, it can ruin a man’s reputation, or worse, send him to a detention cell or prison.

Just a few days after it took effect, the Tax Reform for Acceleration and Inclusion (TRAIN) law has set off more than just a few alarms. In addition to allegations it was procedurally infirm (there is a pending case in the Supreme Court challenging it), TRAIN has been criticized as being antipoor.

In broad strokes, the short-swing profits rule provides that any profit realized by insiders of an issuer from the purchase and sale, or any sale and purchase, of any equity security of the issuer within any period of less than six months, unless such security was acquired in good faith in connection with a debt previously contracted, shall inure to and be recoverable by the issuer (Section 23.2, Securities Regulation Code).

Early this month, President Duterte laid down the law, so to speak, and threatened to shut down the entire island of top tourist destination Boracay for its continued environmental problems.

In a recent order, the Securities and Exchange Commission (SEC) directed four of businessman Joseph Calata’s companies to cease and desist from engaging in the initial coin offering (ICO) of Krops tokens, also referred to as kropcoins.

As of this writing, one bitcoin is already equivalent to $10,338. Late last year, it reached an all-time high of $19,783.06. Still, it was a meteoric rise from just $2.00 in December 2011.