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SC junks UCPB, Cocolife bid over SMC shares

2015-09-16 09:04:15| Beverages - Topix.net

The Supreme Court has junked a bid by the United Coconut Planters Bank and United Coconut Planters Life Assurance to claim ownership over 11.03 percent and 11.01 percent, respectively, of San Miguel Corporation shares, also known as the Coconut Industry Investment Fund block of SMC shares. In a unanimous decision, the high court said the issue has long been settled in its January 24, 2012 ruling that affirmed government's ownership over the subject shares for having been acquired using coconut levy funds.

Tags: bid shares smc

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