A stockholder with a single share in an LTO contractor company is sowing mayhem to the country’s license plate delivery system.
The Ortigas branch of Land Bank of the Philippines added to the controversy when it froze the bank account of PPI-JKG Philippines Inc., now OMI-JKG Philippines Inc., a contractor for the Land Transportation Office.
The bank initiated the account freeze following a letter from Christian Calalang, who claims to be the majority shareholder of OMI-JKG, when in reality he merely owns just one share valued at P100 after selling his previous stocks in the company to Ms. Annabelle Arcilla-Margaroli.
Mr. Calalang’s ownership claim over OMI-KMG rests on thin ice. His original company PPI-JKG forged joint ventures with Dutch company JKG (the manufacturer of the plates) and served as the LTO’s license plate supplier before being acquired by Arcilla-Margaroli. The acquisition led to the emergence of OMI-JKG as the surviving firm.
The bank freeze, meanwhile, has caused significant disruptions to the issuance of motor vehicle plates, with OMI-JKG struggling to pay its local and foreign suppliers.
Dean Israelito Torreon, the legal representative of OMI-JKG, expressed disappointment over LandBank Ortigas and branch manager Nenita Camposano for refusing to release the necessary funds to settle outstanding payments to suppliers.
Torreon argued that the bank based its decision on a mere letter of request from Calalang, which was accompanied by a questionable general information sheet.
The bank filed an interpleader, citing conflicting requests and instructions from both Calalang and Arcilla-Margaroli as the basis for its action. The bank has claimed uncertainty over which party should be recognized with valid authority over the frozen account, resulting in a litigation between the two parties.
Calalang notably sent identical letters to other banks where Arcilla-Margaroli maintains the company account after assuming control. These banks include Asia United Bank, Security Bank and Trust Co., Union Bank of the Philippines, Philippine National Bank and Bank of the Philippine Islands. The banks, however, did not comply with Calalang’s request to freeze the accounts. OMI-JKG’s lawyer said the banks thoroughly reviewed all the legal documents provided by Arcilla-Margaroli and determined that they were in order.
Furthermore, in response to a subpoena from the National Bureau of Investigation (NBI), the active banks clarified that Calalang was not a signatory to the account and that there were no court orders or sufficient documents supporting his claims.
Only the LandBank Ortigas branch froze the funds of PPI-JKG, despite an earlier deduction of P182 million through a manager’s check from the corporation’s bank account at the request of Arcilla-Margaroli.
The abrupt freezing of the account, immediately after Arcilla-Margaroli returned to the bank following her dealings with AUB’s similar claim by Calalang on that day, raises significant concerns. The situation is particularly distressing considering that these funds are allocated for a critical government project and show proper documentation affirming ownership by the Arcilla-Margaroli-JKG Group.
In contrast, Calalang’s claim of ownership is weak. Calalang’s claim documents have been verified and rebuffed by the Philippine National Police, National Bureau of Investigation and fiscal’s offices, resulting in nine ongoing criminal cases filed against him and his associates by Arcilla-Margaroli and her foreign partner, JKG. Calalang has been issued arrest warrants and has already been arraigned.
The bank freeze, thus, should be resolved immediately. It is of utmost importance that the legal system upholds justice and expeditiously resolves the ongoing interpleader cases filed by LandBank and the LTO.
The true owner of the company has been clearly established and it is crucial to address the plate shortage issue. The Department of Transportation and LTO may consider filing criminal cases against the fraudulent claimant and the disruption Calalang has caused to the government’s operations.
Meanwhile, the court should prioritize the prompt release of funds to OMI-JKG, the legitimate contractor, without any unnecessary delays or unreasonable conditions.
E-mail: rayenano@yahoo.com or extrastory2000@gmail.com