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The Appeal of AC Junks Rappler to Reverse the SEC's Decision
MANILA, Philippines – The Court of Appeal (CA) dismissed the online information site's request to rescind the Securities and Exchange Commission's (SEC) decision to revoke its decision. business registration.
In January, the SEC revoked Rappler's license for alleged violation of the statutory and statutory restriction of foreign media in the media.
In its 72-page decision released Thursday, the Court of Appeal noted that the issuance of Philippine Depositary Receipts (PDR), a financial instrument allowing foreigners to invest in a Filipino company without holding any part of it. Is not illegal.
The court recognized Rappler's earlier statement that other Philippine companies like ABS-CBN, GMA and Globe issued RDPs in the past and were authorized by the SEC
The court said that one of the reasons for the rejection was: "That the purpose of the company is manifestly unconstitutional, illegal, immoral or contrary to
Rappler has not yet issued a statement on the decision of this post.
RELATIVELY: Filipino journalists mobilize to defend freedom of the press
The court of appeal also found that the affidavit of the treasurer on the share capital subscribed and paid was false
"That the ownership percentage of the capital stock to be owned by the citizens of the Philippines has not been respected as required by the existing laws of the Constitution," reads in the decision
The AC
"Therefore, this case is referred to In his decision, the Court of Appeal noted that Rappler's reply stating that Omidyar had donated all his PDR to the news site staff was a new development that was not presented to the SEC. [19659004] UN human rights experts alarmed the SEC's decision to revoke Rappler's license.
UN special rapporteurs have said the move "comes at a time of growing rhetoric against independent voices." Call on the government to revert to protecting and promoting independent media, especially those covering Public interest, "the UN Special Rapporteurs said in a joint statement in January. – Patricia Lourdes Viray
LAST UPDATED: July 27, 2018 – 8:46
The Palace answers questions about the ban made to the reporter Rappler Pia Ranada to enter the new executive building of Malacañan. It was clarified later that Ranada is allowed to enter the new executive building but not Malacañan, where the president's events are held.
July 27, 2018 – 8:46
The Court of Appeal dismissed the petition of the online news site Rappler to overturn the decision of the Securities and Exchange Commission, which revoked its registration Business.
In its decision released Thursday, the court of appeal said: "Preliminary, this COurt notes that the exercise of freedom of the press is not a problem in this case. issue relates to the exercise of regulatory powers by the SEC on domestic companies duly registered with it. "
7 May 2018 – 11:27 am
Rappler's CEO, Maria Ressa, contests the charge of tax evasion of 135 million before the Ministry of Justice. She also accuses the Bureau of Internal Revenue of selective prosecutions, reports Edu Punay of The STAR newspaper
March 8, 2018 – 11:27
Rappler's difficulties continue as the Bureau of Internal Revenue files a criminal complaint accusing him of 39 news agency, which criticized President Duterte, for "deliberate attempt at evasion or tax defeat and willful failure to provide correct and accurate information in his annual tax return".
1 March 2018 – 8:12 [19659022] Presidential Spokesperson Harry Roque says the gift of the foreign investor Omidyar Network of his $ 1.5 million investment to the 14 Filipino directors de Rappler is an admission that the Constitution has been violated.
28 February 2018 – 6:25 pm
Malacañang not convinced that Rappler is already cleared of the dismissal order by the Securities Exchange Commission following news that Invest or Omidyar Network donated 1, $ 5 million to Philippine Depository Receipts to Rappler's directors.
"This does not remove the fact that Rappler violated the Constitution," said presidential spokesman Harry Roque. nothing but the circumvention of the law, which restricts the ownership of the media in the country to 100% belonging to Filipinos @PhilippineStar @PhilstarNews
– Alexis B. Romero (@alexisbromero) 28 February, 2018
Roque also criticized the cry of the press to protect the freedom of the press, calling it a "ploy to divert attention from the real problem".
The Omidyar network purchased Rappler PDRs. the media entity. The Constitution only allows the organization of the media to be 100% controlled by Filipinos.
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