According to what I have read on " The Phil. Star" news paper dated May 30, 2008:
The officials of the Manila Electric Company (Meralco) yesterday filled a petition for certiorari with the Court of Appeals and asked the appellate court to issue, ex parte, a temporary restraining order enjoining the Securities and Exchange Commission (SEC) and the Government Service Insurance System (GSIS) from implementing the undated cease and desist order (CDO) served last may 27 during Meralco's stockholders meeting.
The National association of electicity Consumers for Reforms Inc. (Nasecore), on the other hand, lodged a compliantfor syndicated estafa before the Department of Justice yesterday against corporate officials of Meralco over the utility firm's allegedly Questionable conversion into outright income for its stockholders of at least's P889 million in the interest earned by the meter deposits of its subscribers.
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In my opinion that i think the Lopez don't have any respect to the government. Because they didn't obey the command of the SEC, that they should return the P21.4 billion meter deposit refund to the people. Its just like they trash away CDO and the SEC. They should obey first before they question to the court.
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