“We left our corporate offices but it does not mean that we have given up the fight to continue the legacy of our father,” Emily Yanson, corporate secretary of Vallacar Transit Inc. (VTI), said yesterday.
“They claimed victory, but for what? They may have occupied some of our offices and terminals but command and management of the company still rests on us, majority board members and the real owners of VTI,” she said in a press statement.
Leo Rey “LRY” Yanson and his mother, Olivia, with the help of the police, regained control of the VTI headquarters in Barangay Mansilingan, Bacolod City, on Friday from his siblings Emily, Roy, Celina and Ricardo Jr., who took over the facility on July 7.
Norman Golez, lawyer of Leo Rey, on Friday said they now have full control of the headquarters and all 15 branches of the Yanson Group of Bus Companies.
The Yanson 4 had ousted Leo Rey as president of their firm and replaced him with Roy. However, Leo Rey said his ouster was illegal and the siblings are now locked in an intra-corporate legal battle.
Emily said Leo Rey is hell-bent on selling VTI to the highest bidder which explains the use of brute force to occupy all terminals and even the corporate headquarters in Mansilingan.
The camp of Leo Rey wants the corporate documents so they can sell the company, said Emily, who denied accusations that the Yanson 4 ransacked their corporate offices which led to the loss of important corporate documents.
Official receipts and certificates of registration of about 3,000 buses belonging to the Yanson Group of Bus Companies, 800 land titles, and case files were stolen from the firm’s headquarters, Golez said Saturday.
Emily vehemently denied such accusations. As vice president for administration and corporate secretary, it is her responsibility to secure and keep corporate papers, she said.
“Why would we ransack our own offices and steal those documents which Leo Rey claims to be missing? We were occupying the offices for weeks now, and during this whole time, Leo Rey was even there, freely checking and spending his time leisurely as our director?” she said.
Emily said she strongly believes that her youngest brother wants nothing more than to sell the company of her father.
“While we want nothing more than preserve this company, Leo Rey is subverting a company which he co-owns as a director for his own personal interests,” Emily said.
Emily said she, Celina and Ricardo Jr. decided to leave the company headquarters Friday after the police siege “to protect the lives of their employees after receiving reports that certain quarters were planning to inflict on them physical harm and pin the violence on them or on innocent employees inside the compound.”
The Yanson siblings also do not want other interest groups from overblowing the situation to their advantage, she added.
Celina Yanson-Lopez, chief financial officer of the firm, said that management control is not determined by physical invasion of one’s offices, but on corporate shares of stock.
“We remain the majority owners of the company. We have 55 percent of this company. The only reason why we left our offices last Friday is the fact that we were exhausted already and we wanted to go back to our respective homes,” Lopez said.
“But, don’t underestimate our will and determination to see to it that this legacy which our father had left us is protected and in able hands. We are still holding the fort,” she added.
Roy, who was elected president of VTI in a special board meeting attended by the Yanson 4 on July 7, in a separate press statement, condemned what he called the “ illegal actions” of the police for using brute force against civilians inside their Ceres South bus terminal and Mansilingan headquarters.
“That highly public showing of brutality and violation of rights had only caused chaos, confusion, destruction of private property, and even led to a stoppage of our work operations. Hundreds of employees were prevented from doing their work by members of the city and regional police forces without any legal order to back their actions up,” Roy said.
For the PNP to use more than 300 of its heavily armed men from the Special Weapons and Tactics team and the Criminal Investigation and Detection Group just to pressure the Yanson 4 to vacate their corporate offices “smacks of political partisanship, misuse of armed power, and evidently, an abusive display of authority,” he said.
He said this will never deter them from serving the riding public and protecting the interests of their employees and the legacy of their father, he said.
Roy also thanked Philippine National Police chief, General Oscar Albayalde, for condemning this unusual show of force of his provincial units and for calling for a probe.
“Let those who humiliated themselves by using their reposed powers as keepers of the peace be held criminally and administratively accountable and responsible for their highly partisan actions,” he said.
“There are masterminds behind this charade,” he said.
While some may have physical possession of some of their corporate facilities, the control and management of their company remains with the Board of Directors, he added.
The Board will take immediate action against any person who will continue to subvert their company,” Roy said.*
back to top