FEDERICO ‘Piki’ Lopez remains at odds with the majority of his relatives/shareholders in the Lopez Holdings Corporation (LPZ), the publicly listed holding company for the Lopez family’s major investments in various business sectors. Nonetheless, he continues to sit as CEO and a director at LPZ.
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Lopez Holdings Corporation (LPZ) — the publicly listed holding company of the Lopez family — has confirmed that current chairman Federico Lopez, also known as “Piki” Lopez, has taken legal action against other members of the clan and several corporate officers amid an intensifying power struggle within one of the Philippines’ largest family business empires.
In a Tuesday clarificatory disclosure to the stock exchange, LPZ confirmed that Piki Lopez, who serves as CEO and director of LPZ, had filed “a suit for indirect contempt” against several LPZ directors who voted in favor of submitting proposed nominee lists from both Lopez and his relative, Maria Teresa Lopez — mother of Martin L. Lopez, current ABS-CBN Corporation chairman who co-signed a statement backing Piki’s ouster as president of Lopez Inc. (LI) — in relation to the election of a new board of directors for subsidiary First Philippine Holdings Corporation (FPH).
“We confirm that a special board meeting of LPZ was held on 26 March 2026 where the Board voted to submit both the lists of nominees provided by Mr. Federico R. Lopez and Mrs. Maria Teresa L. Lopez to FPH for their consideration,” the disclosure read.
Indirect contempt suit filed
“Mr. Federico R. Lopez filed a suit for indirect contempt against the following directors who voted in favor of submitting both lists: Salvador G. Tirona, Rafael L. Lopez, Martin L. Lopez and Michael Jack B. Garcia, and against the corporate secretary, Enrique I. Quiason, and assistant corporate secretary, Maria Amina O. Amado,” it added.
Last week, FPH — 54.74 percent owned by LPZ — secured approval from the Securities and Exchange Commission (SEC) to hold its annual stockholders’ meeting without electing a new board of directors, a move that reports said could help avoid further escalation of the family feud.
FPH owns and operates the family’s energy businesses, including First Gen Corporation (FGen), which has also become embroiled in the dispute.
‘Poison pills’ in FGen deals
Three majority clan factions representing 71 percent of Lopez Inc. shareholders previously alleged that recent FGen deals contained “poison pills” that would allegedly benefit Piki Lopez and his associates should he be removed as head of the family empire.
Earlier reports noted that Lopez was ousted by the Lopez Inc. board in a 5–2 vote, which he subsequently blocked by filing a petition before the Mandaluyong Regional Trial Court in March.
The Tuesday disclosure stated that Lopez alleged in his petition that the aforementioned LPZ directors and officers violated an existing temporary restraining order and writ of preliminary injunction related to his removal as president of LI.
“A court order was issued dated April 16, 2026 directing the respondents to comment on the petition within 30 days from receipt. Mr. Lopez’s petition prays for an imposition of fines or imprisonment on the respondents. The respondents have yet to file their comment to the petition,” the LPZ disclosure added.
