+ Follow FORTUNATO CRUZ Tag
FORTUNATO CRUZ
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[results] => Array
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[0] => Array
(
[ArticleID] => 342701
[Title] => Ramcar trims debt to P500M, climbs out of receivership
[Summary] => The Ramcar Group, a manufacturer of a local line of batteries including Motolite and Oriental, is now out of receivership following the successful implementation of a court-approved rehabilitation program which resulted in the reduction of its debt to less than P500 million from a high of P7.6 billion in 2001.
A local court issued an order terminating rehabilitation proceedings after the terms of the second amended rehabilitation plan, as approved on August 23, 2003, were fully and successfully implemented by the Ramcar Group and its creditors.
[DatePublished] => 2006-06-19 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[1] => Array
(
[ArticleID] => 232861
[Title] => Spybiz New Year’s party
[Summary] => In keeping with the lively spirit of the season, SPYBIZ is organizing a New Year’s party and we’re cordially inviting the following special quests: Kris Aquino, Joey Marquez, Iggy Arroyo, Wimpy Fuentebella, Gilbert Teodoro, Babe Romualdez, Jose Isidro Camacho, Winston Garcia, OV Espiritu, Vicente Panlilio, Tony Boy Cojuangco, Manuel Montecillo, The Upsilonians, Ambassador Philippe Lhuillier, Greg Garcia, William Gatchalian, Greg Yu, Grace Tiongco, Rosario Bernaldo, Jose Luis Vera, Jose Pardo, AGILE consultants, officers and members of the Manila Yacht Club, Belgian Ambassador Christi
[DatePublished] => 2003-12-25 00:00:00
[ColumnID] => 135728
[Focus] => 0
[AuthorID] => 1730160
[AuthorName] => S.A. Maguire
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[2] => Array
(
[ArticleID] => 229081
[Title] => Dismissal of ASB receiver by SEC upheld by CA
[Summary] => The Court of Appeals has upheld the ruling of the Securities and Exchange Commission, dismissing Fortunato Cruz as rehabilitation receiver for the debt-strapped ASB Group of Companies.
The Fifth Division of the Court of Appeals denied Cruz’s petition for certiorari to nullify the SEC order calling for his removal "for placing his personal interest over his fiduciary duties."
The appellate court also dissolved the writ of injunction issued on Sept. 4, 2003, which enjoined SEC from removing Cruz.
[DatePublished] => 2003-11-24 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1804021
[AuthorName] => Zinnia B. Dela Peña
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[3] => Array
(
[ArticleID] => 223222
[Title] => Ramcar creditor seeks replacement of receiver
[Summary] => A Ramcar creditor has filed a court case calling for the replacement of the company’s receiver for alleged "irresponsibility, unprofessionalism and incompetence." The receiver, Fortunato Cruz, who is engaged in "corporate recovery services," was former president of both the Financial Executives Institute and the Philippine Institute of Certified Public Accountants. He was also erstwhile vice chairman of the Joaquin Cunanan & Co. accountancy firm.
[DatePublished] => 2003-10-06 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] =>
[AuthorName] =>
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[4] => Array
(
[ArticleID] => 219613
[Title] => CA stops SEC from removing ASB receiver
[Summary] => The Court of Appeals has issued an injunction order preventing the Securities and Exchange Commission (SEC) from removing Fortunato Cruz as rehabilitation receiver for the debt-strapped ASB Group of Companies.
SEC Chairman Lilia R. Bautista, however, said the SEC will seek a reconsideration of the decision for the protection of ASB owners and creditors.
[DatePublished] => 2003-09-03 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] =>
[AuthorName] =>
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[5] => Array
(
[ArticleID] => 141699
[Title] => ASB implements SEC-okayed rehab plan
[Summary] => The ASB Group of Companies concluded agreements with three creditor banks to implement the rehabilitation plan earlier approved by the Securities and Exchange Commission.
Agreements have been concluded with Allied Bank, I Bank and DBS Philippines.
The ASB Group of Companies is currently negotiating with other creditor banks. The agreements are intended to achieve the business targets of the rehabilitation plan, including the completion of ongoing projects.
[DatePublished] => 2001-11-28 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] =>
[AuthorName] =>
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
[6] => Array
(
[ArticleID] => 128890
[Title] => Board formed for ASB Group projects
[Summary] => The various parties involved in the rehabilitation of the ASG Group of Companies have formed a Project Governing Board (PGB) to oversee the completion of projects and the development of the land-banked properties of the debt-saddled property developer.
The PGB will be chaired by Fortunato Cruz, the rehabilitation receiver appointed by the Securities and Exchange Commission, with ASB chairman Luke Roxas, lawyer Leonardo Siguion-Reyna (representing the unsecured creditors), and a representative from a still to be named trustee bank as members.
[DatePublished] => 2001-08-05 00:00:00
[ColumnID] => 133272
[Focus] => 0
[AuthorID] => 1096615
[AuthorName] => Christina Mendez
[SectionName] => Business
[SectionUrl] => business
[URL] =>
)
)
)
abtest
October 6, 2003 - 12:00am
September 3, 2003 - 12:00am
November 28, 2001 - 12:00am
