PunoLaw Welcomes two Senior Partners for 2024
PunoLaw is proud to announce the admission of Deborah S. Acosta-Cajustin and Joseph Vincent B. Alvaera as Senior Partners, effective January 1, 2024. Debbie is a multi-skilled lawyer with 17 years of experience in tax and corporate law. She routinely advises public and private companies on various taxation issues, including individual and corporate taxation, tax […]
Philippines
According to the National Economic Development Authority (NEDA), a Philippine government agency responsible for economic development and planning, the Philippines posted a full-year gross domestic product growth rate of 5.6% in 2023, which is below
Union Bank successfully concludes financial agreement to support the funding of a 75.2 MWp (dc) / 49.5 MWac solar power project
On November 30, 2023, the Union Bank of the Philippines (“Union Bank”) successfully extended a significant long-term project financing to Shizen Inc. This financial support is designated for the partial financing of Shizen Inc.’s solar power project, which includes the development and operation of a 75.2 MWp (dc) / 49.5 MWac solar photovoltaic power generating […]
Vena Energy secures investment for a 206-megawatt wind power project
On 26 September 2023, Vena Energy, Asia-Pacific’s leading renewable energy company, entered into a joint venture with Aboitiz Renewables Inc. and Vivant Energy Corp. for the development, construction, and operation of the 206-megawatt San Isidro wind power project in San Isidro, Northern Samar (the “Project”). The Project will feature 33 wind turbine generators with a […]
PHRI Inks Php2.65 Billion Loan
PH Renewables, Inc. (PHRI) successfully secured a loan facility with an aggregate principal amount of up to Php2.65 billion from Rizal Commercial Banking Corporation. The proceeds of the 15-year term loan will be used for the development and construction of PHRI’s 75 megawatt-alternating-current (MWac) solar plant located in Baras, Rizal, Philippines. With the goal of starting […]
PunoLaw Welcomes its New Lawyers
On April 12, 2022, the Philippine Supreme Court released the results of the 2020/2021 bar examinations held on February 4 and 6, 2022. PunoLaw congratulates all of its nineteen (19) underbars who took the exams and will take their oath on May 2, 2022. Six (6) of the PunoLaw underbars are exemplary passers […]
Amendments to the Public Service Act and its Effect on Public Utility Ownership Restrictions
On March 21, 2022, President Rodrigo R. Duterte signed Republic Act No. 11659 into law. The law amends the decades-old Commonwealth Act No. 146, otherwise known as the Public Service Act (PSA), which was passed in 1936. The PSA defines “public service” to include every person that owns, operates, manages or controls in the Philippines, […]
Guidelines on Corporate Dissolution under Sections 134, 136 and 138 of the Revised Corporation Code
On February 15, 2022, the Securities and Exchange Commission (SEC) issued SEC Memorandum Circular No. 5, series of 2022 or the Guidelines on Corporate Dissolution under Sections 134, 136 and 138 of the Revised Corporation Code (RCC) (SEC MC No. 5-2022), which is intended to standardize the procedure on corporate dissolution. SEC MC No. 5-2022 […]
Key Amendments to the Foreign Investments Act of 1991
Republic Act No. 11647 (RA 11647), amending the Foreign Investments Act of 1991 (FIA), was signed into law on March 2, 2022. The law eases the restrictions on foreign participation on investments in the Philippines. Some of the salient features of RA 11647 are as follows: List of Areas Reserved to Philippine Nationals Except as […]
Amendments to the Retail Trade Liberalization Act
On December 10, 2021, President Rodrigo Duterte approved Republic Act No. 11595 (RA 11595) entitled “An Act Amending Republic Act No. 8762 otherwise known as the ‘Retail Trade Liberalization Act of 2000’, by lowering the Paid-Up Capital Requirement for Foreign Retail Enterprises and Other Purposes.” RA 11595 amended the provisions of the Retail Trade Liberalization […]