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In this fight, Crème’s Gabby and Raffy aligned with Mantes’ Beaver and Mark to oust Piki. With Presta’s Brown joining them, their bloc now controls a commanding 68.8% majority, effectively isolating Piki and shifting the balance of power to Gabby’s side. Beaver’s decision to side with Gabby came as little surprise.
Piki said that overlap raises serious questions about the board’s independence. Last November, Gabby’s camp pushed at the LI board to pour ₱2 billion in fresh funds into ABS-CBN, which was on the verge of liquidation due to massive debt and mounting losses.
At the rate the family row is unfolding, and with the pro-Piki Lopez provisions in First Gen Corp.’s P62-billion deal with Enrique Razon’s Prime Infra, the emerging winner is the ports and …
ABS-CBN has sought to distance itself from the Lopez family’s deepening boardroom feud, saying it is not a party to the case filed by Federico “Piki” Lopez and denying claims in court records about supposed unresolved audit findings and executive payouts.
Piki’s case and the court order that kept him in position for the time being remained the spine of the legal story, even if the wider public mostly met the feud through headlines, interviews …
The Lopez family majority, representing three branches of the clan, is preparing to unleash an all-out war against tycoon Federico “Piki” Lopez and officers of First Gen Corp.
The majority of the third-generation cousins – grandchildren of the late Don Eugenio Lopez Sr. – are caught in an ugly war between Piki Lopez, the son of Oscar Lopez, and Gabby Lopez, the son …
Federico “Piki” Lopez has opened another legal front in the Lopez family war after allies of Eugenio “Gabby” Lopez III on the Lopez Holdings board backed rival nominees for First Philippine Holdings Corp. (FPH), a move that could trigger a major shakeup at the family’s power and infrastructure crown jewel.
Federico “Piki” Lopez was removed as president and CEO of Lopez, Inc. for cause and for loss of trust and confidence, three Lopez factions representing a 71% majority stake in the family’s holding company said in a statement.