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THE story of Green Cross alcohol has become famous
because it has been written into a book. It has also become news
because it has been retold in a case in the justice department that
will soon be heard in a Manila court. Issue: Who owns the firm?
An enterprising Chinese by the
name of Mr. Co Ay Tian founded the Gonzalo Laboratories in 1952 with
a capitalization of P17,000. As was the practice during those years,
he had the firm named after his eldest son, Mr. Gonzalo Co It, based
on the understanding that the real owner was the family.
Between the years 1952 up to
1971, the firm grew, especially with the invention of popular brands
like Green Cross alcohol and Zonrox bleach. It was during this
period when the patriarch of the family started to distribute shares
to Gonzalo’s brothers and sisters. There were inevitable changes
in the corporate shares because of the need to increase capital
arising from good business.
The facts show that Mr. Gonzalo
Co It sold his shares totaling 17.5 percent to the other members of
the family on December 19, 1986. Cost: P84,500. And to be consistent
with the new structure, the firm was named “Green Cross
Incorporated.” Eventually, Mr. Co It ceased any formal connection
with the firm when he decided in 1989 to return his remaining one
percent share to the family.
But because of his contributions
to the firm (he authored a book, The Green Cross Saga, to show his
contributions), the family was not remiss in helping Mr. Gonzalo Co
It, especially since he was getting old. . At that time also, Mr. Co
It was also stricken with cancer. The family agreed to provide Mr.
Co It financial assistance of P200,000 based on a trust accord
signed between two parties. The amount represented the gratitude to
Mr. Co It, but did not suggest ownership.
There is an interesting legal
angle in the case of Green Cross. Mr. Co It avers that he did not
actually mean to sell his shares to the brothers and sisters. He
also told a reconciliation board among Chinese families that the
shares were actually his, based on the principle of “implied
trust.” I am not sure if the Manila court will rule on this
principle, but as far as the Department of Justice is concerned, it
has already said in a resolution that the transfer of the shares
from Co It to other members was done without any duress.
The other interesting point by
the DOJ is its decision to further investigate the present owners of
Green Cross of estafa. If the present owners are the real ones—as
the DOJ said in its resolution - how can they be guilty of estafa?
In any case, the DOJ has to prove its point before the courts.
Knowing the pulse of the
masses
A Cabinet member is really a
political extension of the President. Hence, he must know the pulse
of the citizens. This is what Environment Secretary Lito Atienza is
doing when he recently initiated a People’s Hour. I am sure that
Mr. Atienza is at ease with this job because he has been doing this
as mayor of Manila.
Accompanied by DENR officials,
Atienza listened and acted immediately on matters presented to him.
“I have initiated the People’s Hour precisely to facilitate
decisions and hasten actions pertaining to the environment and other
related issues,” Atienza said.
Atienza has his hands full
answering questions on land cases, a request to transport charcoal,
cutting a permit, a truck owner seeking the release of his vehicle
confiscated for carrying marble, an entrepreneur who claimed to have
invented a device which would help clean polluted rivers.
I have seen Atienza talk to the
ordinary people of Sibuyan Island in Romblon in a recent session of
the Kapihan sa Sulo in Quezon City. In that informal consultation,
he asked the residents about the status of mining in the island. It
was during that consultation when Mr. Atienza stopped the cutting of
trees by mining firms.
Nograles studies bill on
territory
The bill seeking to draw the
Philippine territory is on second reading. Expect a lively debate on
this issue before the final vote. As a preview, several congressmen
have already prepared their arguments for and against the bill.
Speaker Prospero Nograles
supports the administration on its agenda, but he has some
questions. Basically, he wants to know why the bill excluded the
Kalayaan islands group and Scarborough Shoal from the proposed RP
map. This might compromise our claim to on the strategic South China
Sea islands.
Executive Secretary Eduardo
Ermita wrote him a letter asking that the House reconsider House
Bill 3216, which endorses the disputed islands in the
archipelago’s baselines, because of potential diplomatic
repercussions.
jules42na@yahoo.com
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