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Court orders arrest of Sycip son, other tuna canning firm officials

A metropolitan trial court has ordered the arrest of George Sycip, son of the late business tycoon Washington Sycip, and four other officials of a tuna processing firm for supposed violation of the Corporation Code of the Philippines.

In a ruling dated July 11, Presiding Judge Christian Emmanuel Pimentel of the Pasig City Metropolitan Trial Court Branch 69 directed the arrest of Alliance Select Foods International Inc. chairman Sycip and company officials Jonathan Dee, Marie Grace Vera-Cruz, Antonio Pacis, and Raymond See over the supposed violation of Section 75 and Section 74 in relation to Section 144 of the Corporation Code of the Philippines, which provides that records of business transactions of the company should be open to any stockholder.

"Wherefore, let warrants of arrest be issued for the apprehension of the above-named accused. Accordingly, bail for their provisional liberty is hereby fixed at P10,000 each accuses per case," the ruling read.

In June the Department of Justice (DOJ) indicted the executives for their refusal to allow certain shareholders to inspect the company books.

This came after Alliance shareholder Hedy Yap-Chua requested access to certain documents regarding the company's business operations, but was later told they needed to submit a signed Access Rules and Confidentiality Undertaking, which she found "stringent and restrictive." — Anna Felicia Bajo/BM, GMA News