jake
22nd July 2013, 09:08
MANILA, Philippines - The Court of Appeals (CA) has effectively stopped the operations in the country of international forwarding firm Federal Express (FedEx).
The fourth division of the appellate court last week voided the permit granted in 2011 by the Civil Aeronautics Board (CAB) to Federal Express Pacific Inc.
The CA ruled with finality that FedEx’s operations in the country violate the constitutional ban on foreign ownership of firms delivering public utility services.
In a two-page resolution released last week, the CA denied the motion for reconsideration filed by FedEx.
Instead, it affirmed its decision last Jan. 23 which held that FedEx is a foreign corporation and could not engage in public utility services such as international airfreight forwarding.
The court reiterated that FedEx’s operations are detrimental to the interest of local competitors and of the Philippine economy as a whole.
Headlines ( Article MRec ), pagematch: 1, sectionmatch: 1
“We hereby declare respondent Federal Express Pacific, Inc., a ‘foreign corporation,’ disqualified in our country from operating as an ‘international airfreight forwarder’ which is clearly a public utility,” read the ruling penned by Associate Justice Danton Bueser.
Associate Justices Amelita Tolentino and Ramon Garcia concurred in this decision.
http://www.philstar.com/headlines/2013/07/22/997031/ca-voids-fedex-permit-operate-phl
The Philippine government say they want to attract foreign investment and they turn round and do this :Erm:
The fourth division of the appellate court last week voided the permit granted in 2011 by the Civil Aeronautics Board (CAB) to Federal Express Pacific Inc.
The CA ruled with finality that FedEx’s operations in the country violate the constitutional ban on foreign ownership of firms delivering public utility services.
In a two-page resolution released last week, the CA denied the motion for reconsideration filed by FedEx.
Instead, it affirmed its decision last Jan. 23 which held that FedEx is a foreign corporation and could not engage in public utility services such as international airfreight forwarding.
The court reiterated that FedEx’s operations are detrimental to the interest of local competitors and of the Philippine economy as a whole.
Headlines ( Article MRec ), pagematch: 1, sectionmatch: 1
“We hereby declare respondent Federal Express Pacific, Inc., a ‘foreign corporation,’ disqualified in our country from operating as an ‘international airfreight forwarder’ which is clearly a public utility,” read the ruling penned by Associate Justice Danton Bueser.
Associate Justices Amelita Tolentino and Ramon Garcia concurred in this decision.
http://www.philstar.com/headlines/2013/07/22/997031/ca-voids-fedex-permit-operate-phl
The Philippine government say they want to attract foreign investment and they turn round and do this :Erm: