The Court of Appeals (CA) has affirmed the dismissal of the qualified theft, falsification and perjury complaint filed by the “Yanson 4” siblings against their mother Olivia and other family members over control and shares in Vallacar Transit Incorporated (VTI).
The CA’s Special Sixth Division, in a 22-page ruling dated 27 January, denied the motion for reconsideration filed by Roy Yanson, Emily Yanson, Ma Lourdes Celina Yanson-Lopez and Ricardo Yanson Jr. They had sought to reverse the CA’s 30 September 2024 decision, which upheld the resolutions issued by former Justice Secretary Menardo Guevarra in April and June 2022.
The CA ruled there was no probable cause to indict Olivia, her children Ginnette Yanson Dumangcas and Leo Rey, and others for the alleged offenses. It stated that the petitioners failed to present new arguments that would justify reversing its previous decision, saying there was no new “cogent or plausible justification” for reconsideration.
The family dispute began after the death of patriarch Ricardo Yanson on 25 October 2015, leaving Olivia and their six children as heirs to the Yanson Group of Bus Companies, which includes VTI, one of the country’s largest bus companies.
The Yanson 4 claimed that, during a special board meeting on 7 July 2019, the VTI board removed Leo Rey as president due to a loss of trust and confidence, and designated the four siblings as officers of the company.
They also claimed that Olivia had waived her rights to Ricardo’s estate, including her shares in VTI, and was no longer a stockholder or qualified to be a director.
However, Olivia and the other respondents argued there was no valid settlement of Ricardo’s estate and that both Ricardo and Olivia remained stockholders of VTI. They also accused the Yanson 4 of conspiring with the family lawyer to fraudulently manipulate the settlement documents to make it appear that Olivia had waived her shares.
The Department of Justice dismissed the complaint in April and June 2022, citing a lack of evidence for qualified theft, falsification and perjury, and classifying the issues as intra-corporate disputes outside its jurisdiction.