BIZ BUZZ: legal puzzle | Business Seeker

The closed Berjaya Makati Hotel will remain closed – at least for now – after Makati City denied hotel management’s request to keep the property open pending appeal of a ministry decision of Tourism (DOT) stripping the hotel of its accreditation and its license to operate as a multi-purpose hotel.

In a letter to the operator of the Berjaya Hotel, Perdana Hotel Philippines, dated January 7, 2022, the chief attorney of the Makati Business Permit Office, Maribert Pagente, said the city only enforced the DOT’s decision revoking his accreditation. He pointed out that the DOT seal of approval is required for hotels or accommodation establishments to be allowed to accommodate guests and clients subject to guidelines issued by DOT and the Interagency Working Group for the Management of emerging infectious diseases.

The city government padlocked the Berjaya Hotel along Makati Avenue after the DOT ruled it broke protocols when one of its guests, Gwyneth Anne Chua, aka “Poblacion Girl,” ignored the mandatory quarantine to party in the Poblacion district of Makati. Shortly after, she tested positive for COVID-19, and guests and bar workers were also reportedly infected.

For this violation, Pagente said that the decision notice dated Jan. 4, 2022 from the DOT clearly and unequivocally stated that the Berjaya Hotel’s operating license was immediately revoked.

Thus, Pagente said the appeal or request for a review of the hotel should be directed to the DOT, as the town hall only implemented the department’s decision. “The City will observe and respect any resolution or order issued by the DOT, if applicable,” he said.

Following complaints that the hotel closure has no legal basis, city spokesman and chief legal counsel Michael Camina said the Berjaya Hotel was only responsible for him. -same.

“The Berjaya hotel should stop playing the role of aggrieved victim,” he said, stressing that due to his own negligence in allowing one of his clients to skip quarantine, the welfare and the safety of the community were seriously threatened.

“Berjaya shouldn’t get around the problem. His negligence has been established and acknowledged. Laws have been broken and the well-being and safety of the community has been endangered, ”he added.

Given its current issues, it remains to be seen when the Berjaya Hotel will be able to accept guests again and whether it will still be able to operate as an accredited quarantine facility. Abangan!

—Daxim L. Lucas

Blocked

Thank you but, no thank you. The Ministry of Transport (DOTr) has finally decided to block the giant Grab from the motorcycle-taxi activity.

It also leaves only the original three players, Angkas, Joyride and Move It, to compete in the segment and amid pandemic restrictions on public transport capacity.

Sources told Biz Buzz that the DOTr Motorcycle Taxi Technical Working Group (TWG) recently ordered Move It to “end forever” its partnership with Grab.

Recall that the TWG ordered the two to suspend their partnership on September 30, just a week after its launch.

The alliance was suspended for apparently violating TWG guidelines and insulting other motorcycle taxi companies, which are said to face stiff competition from a major player.

The partnership has created more jobs given Grab’s extensive network. It would also mean more options for commuters.

These are important considerations when shaping public policy, but it seems that there were other interests to be satisfied.

—Miguel R. Camus

‘Rainmaker’

Transactions in the Philippines have been fairly strong despite the protracted pandemic, keeping investment banker Mark Uy, national director of Credit Suisse (CS), fairly busy in financial markets.

For the second year in a row, CS has been named “Best Corporate and Institutional Advisor (Global)” in the Philippines by Hong Kong-based financial publication The Asset. In its 2021 Triple A Country Awards, The Asset also recognized CS as the “Top Equity Advisor” in the country.

CS recorded the highest number of Equity Capital Markets (ECM) transactions during the review period, including three Initial Public Offerings (IPOs) and three block placements. Some of the transactions carried out by CS during the reporting period include the IPO of Monde Nissin for $ 1 billion, the IPO of DDMP REIT for $ 275 million, and the IPO of $ 522 million. dollars for Converge. The review period also included the Century Pacific block placement of $ 40 million in September 2020 and $ 53 million in January 2021, and the ICTSI placement of $ 97 million.

More recently, although occurring after the review period, CS also led the IPO of MREIT as well as a $ 100 million block investment in Monde Nissin. Credit Suisse also advised RCBC on the sale of a 4.99% stake to SMBC. There have also been a number of bond transactions, including a lifetime bond for AC Energy and a euro-denominated triple-tranche bond issue for the Philippine ruler.

By the way, AC Energy’s $ 400 million bond deal, where CS was co-bookrunner and co-lead, was also recognized by The Asset as the “best green bond (of company) ”of the country, while World Nissin’s first record title, where CS was a joint international bookrunner, was celebrated as“ Best IPO ”. He also acted as Associate Bookrunner and Associate Lead Manager for the Philippine Euro 2.1 Billion Senior Three-Tranche Note Offering, which was recognized as “Best Sovereign Bond” .

“These awards are a testament to the strength of Credit Suisse’s differentiated integrated model and our dedicated commitment to our franchise in the Philippines. We are extremely grateful to our customers for their continued trust in us, and that motivates us to work harder to provide them with more innovative and impactful solutions, ”said Uy.

—Doris Dumlao-Abadilla INQ

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