Banco de Oro (BDO) has denied authorizing a law firm to send a copy of its letter complaint against the Manila Electric Company (Meralco) to a House committee reviewing the franchise extension of the power company.
Committee chairman and Parañaque City 2nd district Rep. Gus Tambunting said on Sunday that BDO Chief Legal Counsel Alvin C. Go stated in a letter that “the bank has not authorized” the Manjares & Manjares law firm to send a copy of its communications with Meralco to the committee.
The committee has been deliberating on proposals calling for a 25-year extension of the power distribution giant’s legislative franchise which will expire in 2028.
Some members of the committee have said that the supposed complaint of BDO against Meralco—if left unresolved–will have a negative effect on the franchise application.
In the May 20 letter sent by the Manjares law firm, it reportedly asked Tambunting to “consider the complaint of BDO Unibank… against Meralco in deciding the legislative franchise of Meralco”.
The letter was brought up during the committee hearing last May 21 and was reported in the media.
In response, the bank, through Go, said in a letter dated May 23, 2024 that it is “still investigating” the release of the unauthorized documents pertaining to the complaint.
As such, it said, “BDO finds the urgent need to inform the Honorable Committee that it has no participation whatsoever regarding the preparation or sending of the said letter” of Manjares.
“For the information of the Honorable Committee, the Bank and Meralco are presently engaged in discussions to resolve the issues” and that “these discussions are, in fact, progressing well”.
BDO added that it “prefers to amicably resolve its issues with Meralco through a healthy dialogue”.
