Business as usual at Global Ferronickel, investors told
Global Ferronickel Holdings Inc. has assured investors that it is business as usual at the listed mining company, even as the Bureau of Immigration (BI) appeals the Taguig regional court’s order to immediately release its chair, Joseph Sy.
“The company wishes to assure shareholders, stakeholders, and the investing public that its business operations remain stable and unaffected by these developments,” Global Ferronickel informed the local bourse on Monday.
The listed firm said Sy’s legal team would explore available remedies “to secure his liberty,” pointing out that the court’s ruling is “immediately executory.”
Global Ferronickel made the disclosure in reaction to reports that the BI has appealed the decision of the Regional Trial Court Branch 221 of Taguig City to release Sy since the detention has no legal basis and is outside the BI’s jurisdiction.
Although the BI respects the RTC’s decision, BI Commissioner Joel Anthony Viado said they submitted the bureau’s appeal on the Taguig court’s order to the Court of Appeals, with guidance from the Department of Justice.
“We trust that the courts will continue to review and resolve this case with utmost diligence and integrity, to ensure the protection of national security and the rule of law,” Viado said in a statement issued on Sept. 5.
The legal battle stemmed from allegations that Sy, also known as Chen Zhong Zhen, was a Chinese national misrepresenting as a Filipino citizen using fraudulently acquired Philippine identity documents.
