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MANUEL MANALAC
Array ( [results] => Array ( [0] => Array ( [ArticleID] => 131671 [Title] => SEC rejects bid of VMC on alternate rehabilitation [Summary] => The Securities and Exchange Commission (SEC) has rejected the petition of Victorias Milling Corp. (VMC) to nullify the companys alternative rehabilitation plan (ARP) submitted by the SEC-appointed management committee (mancom).
The commission en banc has issued an order upholding the Nov. 29, 2000 order by the SEC hearing panel approving the mancom-ARP and dismissing VMC managements (represented by VMC chairman and president Manuel Manalac) own rehab proposal.
[DatePublished] => 2001-08-28 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => 1096615 [AuthorName] => Christina Mendez [SectionName] => Business [SectionUrl] => business [URL] => ) [1] => Array ( [ArticleID] => 96279 [Title] => SEC junks VMC petition to maintain status quo [Summary] => The Securities and Exchange Commission (SEC) has denied the petition of Victorias Milling Co. to defer the appointment of a chief operating officer and maintain a status quo of the company’s operations.
The SEC hearing panel chaired by Director Eugenio Reyes said VMC’s urgent motion for the issuance of a temporary restraining order (TRO) was "devoid of merit."
The SEC said issuing a TRO would defeat the very purpose of the rehabilitation of VMC because the prior orders pertain to the suspension of VMC’s debt payments as well as its rehabilitation. [DatePublished] => 2001-03-06 00:00:00 [ColumnID] => 133272 [Focus] => 0 [AuthorID] => [AuthorName] => [SectionName] => Business [SectionUrl] => business [URL] => ) ) )
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By Christina Mendez | August 28, 2001 - 12:00am
March 6, 2001 - 12:00am
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