A court order dated March 26 prohibited the defendants including Eugenio Lopez III, Rafael Lopez, Miguel Ernesto Lopez, Martin Lopez and Maria Eugenia Brown from enforcing Federico’s ouster. Lopez Inc groups Lopez Holdings Corp, which controls ABS-CBN; First Philippine Holdings Corp; First Gen Corp and Energy Development Corp.
(March 29): A leadership dispute within Lopez Inc, one of the Philippines’ biggest conglomerates, led to the ouster of its president over what he said was a disagreement over a two-billion peso (US$33 million) capital infusion for media unit ABS-CBN Corp.
Federico Lopez sued some extended family members over his removal as president of Lopez Inc, the ultimate holding company of the Lopez family with interests spanning power generation and distribution, property, manufacturing and media. Federico claimed his ouster during a Feb 27 board meeting was illegal and sought his reinstatement, according to a court filing.
