CFA Law Offices

9 October 2009.  Henry Co, managing partner of the Co Ferrer & Ang-Co Law Offices gave a three-hour talk for lawyers on Updates on Philippine Corporate Law.  The program was conducted at the Asian Institute of Management and is part of the continuing legal education program of the Philippine Supreme Court.  The discussion focused on the role of lawyers in the corporate environment within the context of recent decisions of the Supreme Court.  The event was organized by CDAsia, the leading publishers of a comprehensive electronic Philippine Law Library.

President Gloria Macapagal Arroyo has issued Proclamation No. 1841 declaring the following holidays for 2010:

Regular Holidays

January 1 - New Year’s Day
April 1 - Maundy Thursday
April 2 - Good Friday
April 9 - Araw ng Kagitingan
May 1 - Labor Day
June 14 (Monday nearest June 12) - Independence Day
August 30 (Last Monday of August) - National Heroes Day
November 29 (Monday nearest November 30) - Bonifacio Day
December 25 (Saturday) - Christmas Day
December 27 (Monday nearest December 30) - Rizal Day

Special (Non-Working) Days

August 23 (Monday nearest August 21) - Ninoy Aquino Day
November 1 (Monday) - All Saints’ Day
December 24 (Friday)
December 31 (Friday) - Last Day of the Year

February 22 was also declared a special holiday only for schools.  The dates for the observance of Eid’l Fitr and Eid’l Adha shall be announced at a later date.

Oakwood Joy~Nostalg Center will open in the third quarter of 2009 in the Ortigas Business District, Pasig City, Philippines, right accross the Asian Development Bank.  Oakwood boasts of 233 service apartments ranging in size from studios to three bedroom suites.

Oakwood Premier Joy-Nostalg Center Manila features top-of-the-line furnishings and modern home essentials such as a fully-equipped kitchen, home entertainment system, state-of-the-art bath and shower, laundry facilities, maid’s quarters in three-bedroom units and Internet connectivity.   Guests also enjoy use of the Residents’ Lounge with a restaurant and a bar, room service, swimming pool, jacuzzi, fitness center and helipad.

Oakwood Premier Joy-Nostalg Center Manila was designed by the world-renowned architectural firm C.Y. Lee and Partners. They are responsible for the concept behind Asia’s tallest structure, the Taipei 101, and for their first project in the Philippines, present an outstanding example of international contemporary design combined with a stylized Asian flavor. The building also utilizes environment-friendly provisions and is the first in the country to use high-grade and energy-efficient low emissivity glass curtain walls that keep out a high percentage of heat, thus reducing the amount of electricity consumed and maximizing the effects of its in-house air-conditioning system. (Source: Philippine Star)

The Joy~Nostalg Center is developed and owned by Quantuvis Resources Corporation and shall also house the headquarters of Asia United Bank.  Lawyers of the Firm and other guests were treated to a pre-opening preview tour and overnight stay at the residences.

As of yesterday, the Department of Health has confirmed 54 cases of Influenza A (H1N1) in the Philippines. Sometimes referred to as “swine flu”, this virus spreads from person to person, much like regular seasonal influenza viruses spread.

There is no vaccine for the virus, and it can be fatal to humans due to severe respiratory stress.

The virus spreads through coughing or sneezing by people with influenza or touching things with flu viruses on it and then touching one’s mouth, nose or eyes

The symptoms of Influenza A (H1N1) are similar to the symptoms of regular flu such as:

• Fever
• Headache
• Fatigue
• Muscle or joint pains
• Lack of appetite
• Runny nose
• Sore throat
• Cough
• Some cases have reported diarrhea, nausea and vomiting.

In order to prevent the spread of the virus, please observe the following precautions:

1. Observe proper personal hygiene:

• Cover your nose and mouth when coughing or sneezing
• Wash hands regularly with soap and water, at least for 20 seconds (or use alcohol-based hand sanitizers) especially after handling patients and specimen, before and after eating, after using the toilet and as necessary.
• Avoid touching your eyes, nose or mouth. Germs spread this way.

2.  Increase your body’s resistance:

• Have at least 8 hours of sleep
• Be physically active
• Manage your stress
• Drink plenty of fluids
• Eat nutritious food, especially fruits and vegetables

3. Social distancing:

• Avoid crowded places.
• Avoid close contact with sick people.
• Stay home if you are sick until you are free from symptoms to prevent the spread of the virus.

Infected persons maybe contagious from one day before they develop symptoms to up to 7 days after they get sick. Children might potentially be contagious for longer periods. If you have flu like symptoms and history of travel to Influenza A(H1N1) affected countries/areas, immediately consult a doctor.

Via Department of Health

Kalayaan College, an institution of higher education founded by former University of the Philippines President Dr. Jose V. Abueva, has recently moved to a new location. Originally located in Riverbanks, Marikina, it set its new home in a four-level building along Aurora Boulevard, next to the Betty Go-Belmonte LRT 2 Station.

An inauguration mass and dinner was held to celebrate the move to the new location, with Quezon City Mayor Feliciano Belmonte Jr. and Vice Mayor Herbert M. Bautista among its guests, which included KC Directors, faculty, students and staff. Dr. Abueva believes that the move to the new building will prove beneficial to the college,  attracting more students because of the easily-accessible location.

Kalayaan College offers courses in BS Accountancy, BS Business Administration,  BS Computer Science, Certificate in Early Childhood Care and Development and Certificate in Fine Arts, to name a few. It was founded in 2000 by Dr. Abueva and U.P. professors who sought to provide an alternative to the style of education offered by the State University.

The new campus is located at No. 22 Manga St. cor. Aurora Boulevard, New Manila, Quezon City. Classes will start as usual in June.

The Co Ferrer & Ang-Co Law Offices extends its congratulations to the new lawyers who have passed the Philippine Bar Examination of September 2008. The official results of the 2008 Philippine Bar Examinations was posted on the Supreme Court of the Philippines and its website in the afternoon of April 3, 2009. The list may be accessed here.

Judy Lardizabal of San Sebastian College topped the 2008 Bar Exams with an average of 85.70%. A total of 1,310 takers out of 6,364 passed the 2008 Bar Exams. The list of the top ten Bar Exam passers is as follows:

1 - Judy Lardizabal, San Sebastian College, 85.70%
2 - Mylene Amerol-Macumbal, Mindanao State University, 85.65%
3 - Oliver Baclay Jr. , Ateneo de Manila University, 85.60%
4 - Majesty Eve Jala, Ateneo de Manila University, 85.50%
5 - Ma. Elizabeth Liceralde, University of the Philippines Diliman, 85.40%
6 - Michael Macapagal, University of the Philippines Diliman, 84.15%
7 - Denise Dy, Ateneo de Manila University, 84.00%
April Love Regis, Ateneo de Manila University, 84.00%
8 - Christine Joy Tan, Ateneo de Manila University, 83.30%
9 - Shirley Velasquez, University of the Philippines Diliman, 83.75%
Jihan Jacob, San Beda College, 83.75%
10 - Vanessa Raymundo, San Beda College, 83.70%
- Vivian S. Tan, University of the Philippines Diliman, 80.90

Two new lawyers who have passed the 2008 Philippine Bar Exams, took their oath and signed in the roll of attorneys have been welcomed among the ranks of lawyers of the CFA Law Offices: Atty. Ma. Isabel Z. Laluna from the University of the Philippines Diliman, and Atty. Maximilian Chua from San Beda College.

Supreme Court Justice Flerida Ruth P. Romero (ret.) called on graduates of Kalayaan College (literally “Freedom College”) to “cultivate [their] inquiring minds in [their] quest for Truth in the spirit of Freedom” during its 4th commencement exercises held on 26 April 2008.

Justice Romero further stressed that “Freedom is the handmaiden of Truth - the raison d’etre of every educational institution that would flourish and endure.”

She also summarized the active role of the Philippine Supreme Court in instituting judicial safeguards to protect freedom and other human rights enshrined under the Constitution. These include the issuance of new provisions to the Rules of Court pertaining to Petitions for the issuance of a Writ of Amparo and Writ of Habeas Data.

Justice Romero said that the “Writ of Amparo provides a remedy to those whose right to life, liberty and security is violated, or even merely threatened to be violated whether by a public official or a private individual” while the Writ of Habeas Data “is now becoming a powerful instrument not only to guarantee the right to privacy but also the right to truth since families of disappeared persons can use it to obtain information concerning government conduct to learn the fate of disappeared persons and exact accountability”.

Justice Romero was an Associated Justice of the Philippine Supreme Court from 1991 to 1999, and has the distinction of being the first Filipino to be appointed Judge of the Administrative Tribunal of the International Labour Organization in Geneva from 2000-2005.

Kalayaan College was established by officers of the University of the Philippines (”U.P.”), led by former UP President Dr. Jose V. Abueva. CFA Law acts as legal counsel for the College with Atty. Co as its Corporate Secretary.

Multi-awarded singer and songwriter Kitchie Nadal held a successful Grand Listers’ Night on 05 April 2008 at Pasig City.  She entertained fans, friends, and family with songs from her newly released album ‘Love Letter”, which has 17 original tracks.

Kitchie is also the latest endorser of Caltex, which commercial featured her single “Highway”, also from her latest album.

Kitchie’s popularity in the pop-rock niche grew after she released a self-titled solo album featuring her chart-topping single, “Huwag na Huwag Mong Sasabihin.” The album has since achieved double platinum status with over 80,000 copies sold.

From 2005 to 2007, Kitchie has held concert tours in Japan, Hong Kong, Korea, Singapore, Abu Dhabi, Dubai, India, South Africa, Sydney, Qatar, Canada, Taiwan, and the United States.

Kitchie’s highly-acclaimed talents as singer and composer have been recognized in the following awards:

• PARI 18th Awit Awards (2005)
  • Best Performance by a Female Recording Artist (Huwag Na Huwag Mong Sasabihin)
  • Best Ballad (Huwag Na Huwag Mong Sasabihin)
• 2005 Aliw Awards
  • Most Promising Entertainer of the Year (Female)
  • Best Performance in a Concert (Female)
• MTV Pilipinas Video Music Awards 2005
  • MTV Ayos! Award for Chart Attack Song of the Year (Huwag Na Huwag Mong Sasabihin)
• 18th Nickelodeon Channel Kid’s Choice Award for Pinoy Wannabe (2005)
• MTV Asia Awards 2006 - nominated Favorite Artist, Philippines
• The MTV Pilipinas Video Music Awards 2006
  • Favorite Female Artist in a Video for “Fire”
• PARI 20th Awit Awards (2007)
  • Best Song Written for Movie/TV/Stage Play (”Majika”)

The Philippine Supreme Court has expressed its preference for the imposition of a fine, instead of imprisonment, as punishment for the crime of libel. Under the law, the punishment for persons convicted of libel shall be imprisonment, fine, or both, at the discretion of the courts.

In Administrative Circular 08-2008, issued on 25 January 2008, the Supreme Court directed the courts and judges to take note of the foregoing rule of preference in meting out the proper sentence in libel cases.

However, the Supreme Court added that imprisonment may be imposed if “forbearing to impose imprisonment would depreciate the seriousness of the offense, work violence on the social order, or otherwise be contrary to the imperatives of justice”.

A copy of the administrative circular may be found here: sc-admincirc-on-libel.pdf

CFA Law client, Makati Finance Corporation (MFIN), a publicly listed company is set to offer up to Ninety Six Million shares to the public. In its 18 January 2008 issue, the Business Mirror reported that “the additional share sale would improve its public float or ownership to about 36 percent. Currently, the company has 89.99 million outstanding shares with a market capitalization of P224.99 million.”

“It has approved the indicative price range of 9.88 times to 13.48 times price/earnings (PE) ratio as the basis for pricing the offer shares.

The report said that “the company focused on three main loan products, namely, consumer loans to medical professionals, corporate loan via factoring of receivables, and secured business loans” and “in July 2005, motorcycle financing was introduced to further diversify the company’s loan portfolio and spread the risk from big factoring accounts and unsecured consumer loans.”

The full Business Mirror report may be found here.

The Manila Bulletin also reported in its 8 January 2008 issue, that “MFC entered the motorcycle financing sector in 2005 citing the continuous growth of motorcycle sales in the last six years. After just a year of operations, MFC grew its MC Financing loan portfolio by 119 percent to P28 million in 2006.”

The full Manila Bulletin report may be found here.

Last 8 January 2008, the Philippine Stock Exchange (PSE) honored Makati Finance Corporation (MFC) as it marked its fifth year of being listed with the PSE. In simple ceremonies, PSE President Francis Lim and officers of Makati Finance rang the opening bell for the day’s trading session.

From left: MFC Finance Officer Cynthia Gacayan, MFC Corporate Secretary and CFA Law Managing Partner Henry Co, MFC Director Joel Ferrer, MFC Vice Chairman Juan Carlos del Rosario, MFC President Teresita B. Benitez, MFC Chairman, Dr. Isidro B. Benitez, PSE President Francis Lim and MFC Director Eugenio Reyes.