Taking Over the Control and Management of Assets of Vicente Tan
Letter of Instructions No. 250, issued on February 10, 1975, authorizes the Governor of the Central Bank of the Philippines to take control and manage the assets of Vicente T. Tan and various affiliated companies. This includes companies such as Trans-World Investment Corporation and Continental Land & Building Corporation, among others. The directive emphasizes the need to safeguard these assets and requires coordination with the Secretary of National Defense and the Director-General of the National Intelligence and Security Authority. The order reflects governmental intervention in private asset management during that period.
Law Information
- Reference Number
- Letter of Instructions No. 250
- Date Enacted
- Category
- Presidential Issuances
- Subcategory
- Letters of Instructions
- Jurisdiction
- Philippines
- Enacting Body
- Congress of the Philippines
Full Law Text
February 10, 1975
LETTER OF INSTRUCTIONS NO. 250
TO : The Governor
Further to Letter of Instructions No. 199 dated June 29, 1974, addressed to the Secretary of National Defense and General Fabian Ver, NISA, you are authorized and directed to take over the control and management of the assets of Vicente T. Tan and of the following companies which are affiliated with, related to, associated with, owned and/or controlled by Vicente T. Tan:
Trans-World Investment Corporation
Victan & Co., Inc.
First International Investment Co., Inc.
Far East Petroleum & Minerals Corporations
Continental Land & Building Corporation
Philcontrust International Corporation
Continental Finance Corporation
Overseas Insurance Corporation
Pentagon Mines, Inc.
Community Rural Bank of Panay City, Inc.
Ortigas Development Corporation
Cardinal Development Corporation
Galleon Trader, Inc.
Supreme Investment Corporation
Community Foods, Inc.
at such times and under such circumstances as you may deem appropriate and necessary to safeguard the assets of Vicente T. Tan and of such companies.
You shall coordinate in this matter with the Secretary of National Defense and the Director-General of the National Intelligence and Security Authority.
DONE in the City of Manila, this 10th day of February, in the year of Our Lord, Nineteen Hundred and Seventy-Five. cdt
Cite This Law
Taking Over the Control and Management of Assets of Vicente Tan, Letter of Instructions No. 250, Feb 10, 1975 (Philippines)
Taking Over the Control and Management of Assets of Vicente Tan, Letter of Instructions No. 250 (Phil. 1975)
Related Laws
- Turn-Over of the Assets, Securities, and Records of Continental BankLetter of Instructions No. 199 • Jun 29, 1974 • Presidential Issuances
- Take Over and Control of the Assets of Corporations Owned by Fernando JacintoLetter of Instructions No. 35 • Oct 28, 1972 • Presidential Issuances
- Sequestration of Assets, etc. of Messrs. Frederick G. Webber, et al.Letter of Instructions No. 374 • Feb 17, 1976 • Presidential Issuances
- Acquisition by Philippine National Bank of the Foreclosed Assets of Pampanga Sugar MillsLetter of Instructions No. 311 • Aug 26, 1975 • Presidential Issuances
- Take Over by the Secretary of National Defense of the Control, etc. of Any Water Transport Facilities and EquipmentLetter of Instructions No. 181 • Apr 6, 1974 • Presidential Issuances
- Management, Control and Operation of the Philippine Public School Teachers' AssociationLetter of Instructions No. 860 • May 16, 1979 • Presidential Issuances
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