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PROMINENT Filipino businessman-restaurateur has filed
criminal charges against international financial and
investment company Lehman Brothers and its Filipino
counterparts for possible violation of the Philippine
Anti-Dummy Law.
Victor
Villavicencio, a prominent restaurateur, said those
named respondents in the antidummy suit are Norman
Macasaet, Carlos Mañalac, Michael Rabonza, Edilberto
Castañeda, Ana Marie Katigbak and several other people
who acted for and in behalf of Lehman Brothers and
Philippine Investment One Inc.
Villavicencio’s complaint against the globally known
financial and investment company was filed at the
Regional Trial Court, Branch 214, Mandaluyong City
(Criminal Case MC08-11640).
Records
show that between the periods of September 2004 to March
2005, the aforesaid individuals accordingly conspired
and simulated the existence of several corporations in
order to make it appear that Philippine Investment Two
Inc. is qualified to own real properties in the
Philippines.
However,
upon examination of the records, it shows that Lehman
Brothers, which is made up of foreign nationals, are the
real and beneficial owners of the said corporation and
as such, they are not qualified to own any real property
anywhere in the Philippines.
The
Philippine Constitution is clear that only Filipinos can
own lands anywhere in the country, the complainant said.
It was
also noted that the accused incorporated several
corporations, including Philippine Investment One (SPV-AMC)
Inc., Philippine Investment Two (SPV-AMC) Inc. Argonan
Real Estate Investment Inc., Duncan Holdings Inc., and
Argosy Properties Inc. to provide corporate scheme to
circumvent the legal requirements on the ownership of
land.
With the
said case, Villavicencio explained that it now becomes
apparent and alarming that there might be several other
foreigners and/or foreign corporations which are trying
or may have acquired beneficial ownership of lands
through corporate layering only to acquire real
properties in the country.
Its own
web site shows that Lehman Brothers is an innovator in
global finance and serves the financial needs of
corporations, governments and municipalities,
institutional clients and high net-worth individuals
worldwide.
It was
founded in 1850 maintaining leadership positions in
equity and fixed income sales, trading and research,
investment banking, private investment management, asset
management and private equity.
The firm
is headquartered in New York, with regional headquarters
in London and Tokyo, and operates in a network of
offices around the world. |
