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Nation

Court rules on control of Negros bus firm

Gilbert Bayoran - The Philippine Star

BACOLOD CITY, Philippines — A local court in this city has appointed Olivia Yanson special administrator of the estate of her late husband, which included a major transport firm that operates on Negros Island as well as in the rest of the Visayas and Mindanao.

The family has been locked in a corporate battle over control of the Vallacar Transit Inc. (VTI).

The dispute has divided the Yanson siblings for years.

The feuding groups are composed of Yanson and her children Leo Rey and Ginette on one side, and her other four children Emily, Ma. Lourdes Celina, Ricardo and Roy on the other side.

As a special administrator, the court said Yanson is in charge of the preservation and management of the estate of her husband Ricardo.

In her capacity as special administrator and conjugal co-owner, Yanson led the annual stockholders’ meeting of the VTI at the company’s office in Barangay Mansilingan in this city on Saturday.

Yanson, Leo Rey and Ginnette were reelected as members of the VTI’s board of directors.

During the meeting, Leo Rey was reappointed as chairman of the board and president of the VTI, and Yanson as corporate secretary and treasurer.

The group of Ma. Lourdes Celina, Ricardo and Roy – who claimed to be the major stockholders of the company – did not attend the meeting despite due notice.

“Despite all the turbulence experienced by the management in the past two years, the company remains strong and resilient as it continues to serve the Filipino commuters,” the VTI said.

The company assured the public that it would continue to provide safe and quality transportation to everyone.

The family dispute had affected the operation of the bus company and the workers.

OLIVIA YANSON
Philstar
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