Lopez family never lost ownership of ABS-CBN even during martial law - ABS-CBN lawyer

Lopez family never lost ownership of ABS-CBN even during martial law - ABS-CBN lawyer

In the continuing joint committee hearings regarding the application of the new legislative franchise of the Lopez-controlled ABS-CBN Corporation the congressmen talked about the legality of the company to the Lopez family after the martial law years.
The Lopez group said never lost ownership of the network even during Martial Law.

“Hindi po nawalay ang pag-aari ng Lopez family sa ABS-CBN at mga broadcast facilities and equipment even from the time when Martial Law was declared until today,” ABS-CBN lawyer Arecio Rendor Jr. told a joint House panel hearing ABS-CBN Corporation’s new franchise application.
(photo credit to owner)

“Isang patunay ay ang titulo na na-issue sa ABS-CBN noong 1967. Kahit po shares of stocks nung nagsimula po ang ABS-CBN when it was incorporated, ay hindi po nawalay sa mga stockholders nito. What was taken from ABS-CBN was the mere possession of all its real estate and broadcast equipment,” he said.
Rendor also highlighted the fact that the return of real estate and broadcast facilities after the 1986 EDSA Revolution to the Lopez family underwent due process.
It began when ABS-CBN lawyer Lorenzo Tañada wrote to then President Cory Aquino on April 17, 1986 to return possession of properties to ABS-CBN since the country was no longer in crisis.

“This paved the way for the execution of the agreement to arbitrate on January 6, 1987,” he said.
According to the ABS-CBN lawyer the arbitration between ABS-CBN and the government, including the Supreme Court decision in October 16, 1989 upholding the agreement between the Cory administration and ABS-CBN for the return of the properties.
It continued until the Ramos presidency up until the Makati Regional Trial Court on June 23, 1995 upheld the decision of the arbitration board.
“Two administrations gave imprimatur for the return of the possession of ABS-CBN of its real estate, properties, and broadcast equipment,” he said.
“And even the Supreme Court won validating the agreement to arbitrate and another one for the factual circumstances lends constitutionality to the return,” Rendor said.

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Report from Politiko

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