WORKERS of a logging company in Mindanao will eventually own the corporation they used to work for.
This came after the Sandiganbayan issued the writ of execution on a previous ruling that declared the employees of Lianga Bay Logging Company, Inc. (LBLCI) as rightful owners of the majority of the
company’s shares.
The anti-graft court’s Fifth Division five months ago ordered the transfer of most of the company’s assets to the workers.
On November 7, the division said its July 18, 2023 decision is “final and executory” without any appeal or pleading by the defendant.
“Let therefore, a Writ of Execution issue to enforce the Resolution promulgated on July 18, 2023,” the court said.
A writ of execution is a court order that begins the transfer of assets following a judgment.
The Sandiganbayan in July 2023 ruled in favor of the Diatagon Labor Federation (DLF), a union based in Mindanao, that claimed 60 percent of LBLCI.
“The 60 percent of the shareholdings of Lianga Bay Logging Co., Inc. (LBLCI) including all its assets, resources, and intangibles are rightfully owned and/or for the benefit of the employees and workers
of LBLCI who are all members of Intervenor Diatagon Labor Federation (DLF),” the court ruled.
The anti-graft court added the DLF members are entitled to be paid retirement benefits, separation pay, insurance premiums, unpaid salaries, wages and back wages, and other benefits.
Defendant Peter Sabido, the company’s principal stockholder, was also found by the Sandiganbayan liable to DLF for moral damages amounting
to ₱1 million, exemplary damages for ₱1 million, and the cost of suit in the amount of ₱100,000.