THE Lopez family dispute stemmed from Lopez Holdings Corp. and First Gen chairman and CEO Federico ‘Piki’ Lopez's refusal to allocate P2 billion of the proceeds of First Gen's sale of 60 percent of its natural gas business to Prime Infrastructure to support debt-beleaguered ABS-CBN. In turn, ‘the majority said they would push for an audit of First Gen to protect shareholders.’
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First Philippine Holdings Corp., Lopez family's holding company, pushes back its 2026 Annual Stockholders’ Meeting, scrapping the 28 May schedule as a high-stakes legal dispute at the top of the Lopez group continues to simmer.
In a disclosure following a special board meeting today, FPH says directors agree to defer the gathering indefinitely, effectively putting shareholder proceedings on hold until the conflict between Chairman and CEO Federico R. Lopez and Lopez Inc. is resolved.
