FARMIX GROUP

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                    [ArticleID] => 220868
                    [Title] => Downsizing for ‘empty nesters’
                    [Summary] => Did you know 1: Many wealthy "empty nesters" have traded their mansions (with a room for each kid and a guest room or two) for smaller homes. Mind you, the address is still very exclusive.


An example of such a community of, uh, grandparents is Kasiyahan Village near the Santuario de San Antonio in Forbes Park where the going rental rate is somewhere in the vicinity of P220,000.


                    [DatePublished] => 2003-09-18 00:00:00
                    [ColumnID] => 135040
                    [Focus] => 0
                    [AuthorID] => 1488513
                    [AuthorName] => Margaret Jao-Grey 
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
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            [1] => Array
                (
                    [ArticleID] => 220728
                    [Title] => Court bars BSP, SEC actions on UOBP
                    [Summary] => A local court has barred government regulators Bangko Sentral ng Pilipinas (BSP) and the Securities and Exchange Commission (SEC) from acting on all corporate transactions of the United Overseas Bank of the Philippines (UOBP).


Judge Artemio Tipon of the Manila Regional Trial Court Branch 46 issued a writ of preliminary injunction restraining BSP Governor Rafael B. Buenaventura and SEC Chairperson      Lilia Bautista from approving the application for increase of the authorized capital stock of UOBP, the local unit of the Singaporean bank.


                    [DatePublished] => 2003-09-17 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1096655
                    [AuthorName] =>  Des  Ferriols
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
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            [2] => Array
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                    [ArticleID] => 196360
                    [Title] => UOB gives court copy of contract to help settle Farmix-Espiritu row
                    [Summary] => United Overseas Bank of the Philippines has submitted to a Manila court a copy of its settlement agreement with the group of former Finance Secretary Edgardo Espiritu as requested by the Farmix Fertilizer group.


The bank said this should help the Farmix and Espiritu groups settle their differences on how much Farmix is entitled to from the amount the Espiritu group got from UOB for selling out of the bank.


Farmix used to be part of the Espiritu group and had internal arrangements on sharings as minority partners of UOB of Singapore.


                    [DatePublished] => 2003-02-22 00:00:00
                    [ColumnID] => 133272
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                    [ArticleID] => 194118
                    [Title] => UOBL head in hot water
                    [Summary] => A Manila court has ordered the deposition of the chairman of the United Overseas Bank Ltd. (UOBL) of Singapore on  the controversial buyout deal of the Singaporean investors of the former Westmont Bank now operating under the name United Overseas Bank of the Philippines (UOPB).


                    [DatePublished] => 2003-02-04 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Banking
                    [SectionUrl] => banking
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                    [ArticleID] => 187840
                    [Title] => Not alone
                    [Summary] => Signs of the times 1: In Binondo, the cost of business has gone up because the preferred currency used in paying the "facilitating fee" has shifted from pesos to dollars.


Just consider how small P1 million translates to in dollars or how much $1 million translates to in pesos at the current foreign exchange rate.
* * *

Signs of the times 2: The Philippines is not the only Asian country being hit by white collar unemployment.


                    [DatePublished] => 2002-12-14 00:00:00
                    [ColumnID] => 135040
                    [Focus] => 0
                    [AuthorID] => 1488513
                    [AuthorName] => Margaret Jao-Grey 
                    [SectionName] => Business
                    [SectionUrl] => business
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            [5] => Array
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                    [ArticleID] => 187202
                    [Title] => Row among UOBP owners deepens
                    [Summary] => The dispute between two factions of former owners of the United Overseas Bank of the Philippines (UOBP) turned from bad to worse amid charges of alleged opportunism by the minority shareholders.


Lawyer Francis Lim, senior partner of the ACCRA Law and legal counsel for the controlling Espiritu-Tan Caktiong Group, accused the Farmix Group of illegally increasing their 7.66-percent stake in UOBP, formerly known as Westmont Bank, to 10.36 percent.


                    [DatePublished] => 2002-12-09 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
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                    [SectionName] => Business
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            [6] => Array
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                    [ArticleID] => 186816
                    [Title] => RTC tells UOBP to disclose details of buyout deal
                    [Summary] => The Manila Regional Trial Court (RTC) has ordered officials of the United Overseas Bank of the Philippines (UOBP) to disclose the settlement agreement for the buy-out by the Singaporean investors of the former Westmont Bank.


Aside from an examination and copying of the settlement accord, the court also ordered that deposition on details of the deal be taken from UOBP president Chua Teng Hui, Jollibee chairman and president Tony Tan Caktiong, and businessman John Espiritu.


                    [DatePublished] => 2002-12-06 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
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                    [ArticleID] => 186406
                    [Title] => UOBP minority stockholder accuses Espiritu of engaging in ‘dummy deal’
                    [Summary] => 

A minority stockholder of United Overseas Bank of the Phils. (UOBP) has accused former Finance Secretary Edgardo Espiritu and his associates of engaging in dummy deals, a charge that has been denied by the lawyers of the Espiritus.


The minority stockholder also called on the Bangko Sentral ng Pilipinas (BSP) to investigate the reported settlement between the bank’s majority stockholders and Espiritu Group.


In a press statement, lawyer Roan Libarios claims the same dummy deal "is now being used to deprive the group of its rightful share in UOBP."


                    [DatePublished] => 2002-12-03 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
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            [8] => Array
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                    [ArticleID] => 184982
                    [Title] => Farmix to blame for being left out of UOB deal – lawyer
                    [Summary] => The Farmix Group has only itself to blame for being left out in the buyout transaction between the Espiritu Group and the United Overseas Bank Ltd. (UOBL), a prominent corporate counsel said yesterday.


Lawyer Francis Lim of the ACCRA Law Office representing the Espiritu and Tan Caktiong Groups, issued the statement in reaction to accusations by Farmix that it was excluded from the buyout deal.


                    [DatePublished] => 2002-11-22 00:00:00
                    [ColumnID] => 133272
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            [9] => Array
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                    [ArticleID] => 183769
                    [Title] => BSP asked to bare UOBP buyout deal
                    [Summary] => A group of minority stockholders in United Overseas Bank of the Philippines (UOBP) has asked the Bangko Sentral ng Pilipinas (BSP) to compel the bank officers to disclose the reported buyout settlement entered into by the Singaporean United Overseas Bank Ltd. (UOBL) with the group of former Finance Secretary Edgardo Espiritu.


                    [DatePublished] => 2002-11-13 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
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                    [SectionName] => Business
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abtest

Downsizing for ‘empty nesters’

By Margaret Jao-Grey  | September 18, 2003 - 12:00am

Did you know 1: Many wealthy "empty nesters" have traded their mansions (with a room for each kid and a guest room or two) for smaller homes. Mind you, the address is still very exclusive. An example of...

Business

Court bars BSP, SEC actions on UOBP

By Des Ferriols | September 17, 2003 - 12:00am

A local court has barred government regulators Bangko Sentral ng Pilipinas (BSP) and the Securities and Exchange Commission (SEC) from acting on all corporate transactions of the United Overseas Bank of the Philippines...

Business

UOB gives court copy of contract to help settle Farmix-Espiritu row

February 22, 2003 - 12:00am

United Overseas Bank of the Philippines has submitted to a Manila court a copy of its settlement agreement with the group of former Finance Secretary Edgardo Espiritu as requested by the Farmix Fertilizer group. The...

Business

UOBL head in hot water

February 4, 2003 - 12:00am

A Manila court has ordered the deposition of the chairman of the United Overseas Bank Ltd. (UOBL) of Singapore on the controversial buyout deal of the Singaporean investors of the former Westmont Bank now operating...

Banking

Not alone

By Margaret Jao-Grey  | December 14, 2002 - 12:00am

Signs of the times 1: In Binondo, the cost of business has gone up because the preferred currency used in paying the "facilitating fee" has shifted from pesos to dollars. Just consider how small P1 million...

Business

Row among UOBP owners deepens

December 9, 2002 - 12:00am

The dispute between two factions of former owners of the United Overseas Bank of the Philippines (UOBP) turned from bad to worse amid charges of alleged opportunism by the minority shareholders. Lawyer Francis Lim,...

Business

RTC tells UOBP to disclose details of buyout deal

December 6, 2002 - 12:00am

The Manila Regional Trial Court (RTC) has ordered officials of the United Overseas Bank of the Philippines (UOBP) to disclose the settlement agreement for the buy-out by the Singaporean investors of the former Westmont...

Business

UOBP minority stockholder accuses Espiritu of engaging in ‘dummy deal’

By Ted P. Torres | December 3, 2002 - 12:00am

A minority stockholder of United Overseas Bank of the Phils. (UOBP) has accused former Finance Secretary Edgardo Espiritu and his associates of engaging in dummy deals, a charge that has been denied by the lawyers...

Business

Farmix to blame for being left out of UOB deal – lawyer

November 22, 2002 - 12:00am

The Farmix Group has only itself to blame for being left out in the buyout transaction between the Espiritu Group and the United Overseas Bank Ltd. (UOBL), a prominent corporate counsel said yesterday. Lawyer Francis...

Business

BSP asked to bare UOBP buyout deal

November 13, 2002 - 12:00am

A group of minority stockholders in United Overseas Bank of the Philippines (UOBP) has asked the Bangko Sentral ng Pilipinas (BSP) to compel the bank officers to disclose the reported buyout settlement entered into...

Business