MANILA, Philippines—The Regional Trial Court (RTC) of Manila has dismissed the petition filed by Philippine Women’s University (PWU) and key Benitez family members challenging the election of STI Holdings-nominated boardroom representatives in PWU.
This rendered moot and academic the election contest filed by PWU, matriarch Helena Benitez and PWU president Jose Francisco Benitez against the STI group of businessman Eusebio Tanco.
STI attempted last year to acquire two-thirds control of PWU’s membership and board of trustees. But because Tanco’s group afterwards withdrew its bid to install its representatives, the court did not see any need to proceed with the case.
Read more: http://business.inquirer.net/188496/pwu-benitez-plea-junked#ixzz3UJcr5KZ6
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