The Mandaluyong Regional Trial Court dismissed a petition to hold in indirect contempt several members of the Lopez majority bloc over alleged violations of a temporary restraining order in relation to the controversial family feud.
In a regulatory filing on Wednesday, Lopez Holdings Corp. said a copy of the court ruling dated Oct. 26 had granted the respondents’ joint motion to dismiss the complaint with prejudice, putting an end to the contempt proceedings.
A copy of the decision was not immediately available to the media.
‘Willfull’ violation
The petition, filed by Lopez Holdings chair Federico ‘Piki’ Lopez earlier this year, claimed that four directors of the group and two corporate secretaries ‘willfully violated’ the court orders dated March 11 and March 16 of this year.
The respondents were Rafael Lopez, Martin Lopez, Michael Jack Garcia, Salvador Tirona, lawyer Enrique Quiason and lawyer Maria Amina Amado.
The issue started at a Feb. 27 special meeting of Lopez Inc.’s board, where an alleged attempt was launched to remove Piki as president.
Temporary restraining orders (TROs) were sought and then issued in March, barring the defendants from naming a new company president.
Governance stability
Piki earlier argued in the petition that his removal threatened governance stability across key Lopez companies, including Lopez Holdings Corp., First Philippine Holdings Corp., First Gen Corp. and Energy Development Corp.
However, the filing of a contempt petition was triggered after Piki alleged that the respondents had violated the TROs during a special board meeting of Lopez Holdings last March 26. This, as the respondents voted to submit two competing lists of nominees for the board of First Philippine Holdings Corp. for consideration.
The defendants maintained that the TRO did not cover Lopez Holdings
The majority group said the latest development has no effect on its business or operations.