UOBL

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                    [ArticleID] => 237563
                    [Title] => S’pore’s UOBL ordered to pay minority stockholders
                    [Summary] => The Manila Regional Trial Court has ordered the Singapore-based United Overseas Bank Ltd. (UOBL) to pay P135.6 million in damages to a group of minority stockholders led by the Farmix group.


In his order, RTC judge Artemio Tipon said the minority group should be awarded its proportionate share in the proceeds of the sale of Westmont Bank to UOBL, including interest.


UOBL acquired a 60 percent controlling stake in Westmont Bank, owned by the group of former Finance Secretary Edgardo Espiritu, in 1999 through a leveraged buy-out.


                    [DatePublished] => 2004-02-04 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
                    [SectionUrl] => business
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            [1] => Array
                (
                    [ArticleID] => 210943
                    [Title] => UOBL disputes legal basis of Farmix’s derivative suit
                    [Summary] => The United Overseas Bank Ltd. (UOBL) of Singapore said the legal action taken by the Farmix group should not have been focused on its subsidiary, the United Overseas Bank of the Philippines (UOBP).


Rather the dispute was actually between the two factions within the minority shareholders in UOBP, the Espiritu and the Farmix groups. 


                    [DatePublished] => 2003-06-21 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1097672
                    [AuthorName] =>  Ted P. Torres
                    [SectionName] => Business
                    [SectionUrl] => business
                    [URL] => 
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            [2] => Array
                (
                    [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
                    [Focus] => 0
                    [AuthorID] => 
                    [AuthorName] => 
                    [SectionName] => Business
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S’pore’s UOBL ordered to pay minority stockholders

February 4, 2004 - 12:00am

The Manila Regional Trial Court has ordered the Singapore-based United Overseas Bank Ltd. (UOBL) to pay P135.6 million in damages to a group of minority stockholders led by the Farmix group. In his order, RTC judge...

Business

UOBL disputes legal basis of Farmix’s derivative suit

By Ted P. Torres | June 21, 2003 - 12:00am

The United Overseas Bank Ltd. (UOBL) of Singapore said the legal action taken by the Farmix group should not have been focused on its subsidiary, the United Overseas Bank of the Philippines (UOBP). Rather the dispute...

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