Legacy planholders in Cebu to file class suit vs. firm owner

CEBU, Philippines - Cebu planholders of the controversial Legacy Consolidated Plans Inc. have gained support from Sen. Manuel Roxas in filing a class suit against the company’s owner Celso delos Angeles.

The planholders asked Roxas to help them request the Department of Justice to lessen, if not waive, the filing fee. Many planholders have expressed apprehension in filing the complaint because of the exorbitant filing fee.

Manuel Monzon, counsel of planholders in Cebu, said a class suit would be the best alternative to save the plan holders from the filing fee.

In yesterday’s forum at the Cebu Normal University, Roxas said he already channeled the request of the planholders through a letter but DOJ reportedly still has not made any reply.

Roxas said DOJ’s seeming inaction is ironic, considering that it is supposed to be the department that should actively run after Delos Angeles.

“Talagang mabagal ang DOJ.  Kaya kailangan pa nating pukpukin sila para sila kumilos,” Roxas told the more than 500 planholders and investors who attended the forum.

Roxas, chairman of the Senate Committee on Trade and Commerce, also urged planholders to seriously pursue Delos Angeles to give justice to the defrauded planholders and investors.

Roxas called on those who have knowledge of Delos Angeles’ properties to channel details to his office so that the information can be included in future Senate hearings.

“This is not a business that went wrong. There is already fraud from day one, the time that Delos Angeles put up this business,” Roxas said.

Roxas earlier said the Securities and Exchange Commission and the Bangko Sentral ng Pilipinas should “stop dilly-dallying and immediately seek the attachment of Delos Angeles’s assets to guarantee the reimbursement of an estimated P30 billion in obligations of Legacy to its pre-need planholders and depositors.”

In previous Senate committee hearings, Delos Angeles already admitted that the pre-need firm has only P350 million as trust fund. -Mitchelle L. Palaubsanon/JMO (THE FREEMAN)