Saturday, May 14, 2005

Too Close for Comfort (or Delicadeza???) - repost

Text Excerpted from Victor Agustin, Inq7, 13 May 2005

"THE REINA Emperatriz of the Yuchengco empire, Helen Y. Dee herself, will personally meet and answer any and all questions from the Pacific Plans holders in a no-holds-barred open forum -- this we gathered from the pro-Yuchengco grapevine.

There is but one fine print: The lawyers from the firm of Villaraza and Angangco have advised her to wait, so as not to jeopardize the rehabilitation petition now pending with the Makati Regional Trial Court.

According to the pro-Yuchengco grapevine, Dee believes that the law and the equities of the case are on their side and that, after all the kicking and screaming in this difficult denial stage, the Pacific Plans holders would come around and agree that the return-the-payments-plus-seven percent tax-free, compounded-interest-earnings proposal represents a fair solution, given the ticking time bomb that the open-ended plans now threaten not only the country's first pre-need company but the multibillion-peso industry as well.

In the meantime, anyone who wishes to comment or object to the rehabilitation proposal may file his comment or opposition with Makati Judge Romeo Barza..."


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