LTO contractor eyes charges vs 2 'owners'

MANILA, Philippines - Land Transportation Office (LTO) contractor Stradcom Corp. is preparing to file criminal charges against two men for allegedly illegally misrepresenting themselves to be owners of the company,” an official said yesterday.

Stradcom spokeswoman Margaux Salcedo said claims of ownership by Aderito Yujuico and Bonifacio Sumbilla “are absolutely baseless” because their names are “nowhere” in the stock and transfer book “the most basic source for the identification of the owners for a corporation.”

She said the two men are neither members of the board of directors nor shareholders.

Salcedo said all legal documents indicate that Stradcom’s chairman is former finance secretary Roberto de Ocampo and its president is Cezar Quiambao.

Quiambao’s group is accusing Yujuico and Sumbilla of leading security guards from Unilateral Security Agency in forcibly entering the company’s premises at the LTO main compound in Quezon City. The takeover resulted in the stoppage of vehicle registration services nationwide for around six hours.

Yujuico and Sumbilla had earlier claimed ownership of Stradcom due to a January 2007 Supreme Court ruling that they said declared them the owners of Stradec. Salcedo said Stradcom and Stradec are two different firms.

Salcedo also said neither Yujuico and Sumbilla could claim ownership of Stradcom by virtue of ownership of Stradec because since 2007, they have allegedly been declared as delinquent stockholders of Stradec.

“We also appeal to Yujuico and Sumbilla to cease such misrepresentation as it is no longer affecting only the real owners of the corporation but LTO operations and vehicle owners as well,” she said.