SEC witness admits possible trust agreement with VP Sara was speculative

Manila Bulletin

SEC Director Gerardo Del Rosario acknowledged that his statement about a possible trust agreement between Vice President Sara Duterte and Gencorp Industries Inc. was “kuro-kuro” or speculative.  The prosecution objected, saying Del Rosario was not speculating and was answering based on his 30 years of experience. Presiding Officer Francis “Chiz” Escudero overruled the objection, saying Del Rosario is a lawyer and can answer whether his statement involved speculation. (Video courtesy of Senate of the Philippines)  Subscribe to the Manila Bulletin Online channel! - https://www.youtube.com/TheManilaBulletin  Visit our website at http://mb.com.ph Facebook: https://www.facebook.com/manilabulletin Twitter: https://www.twitter.com/manila_bulletin Instagram: https://instagram.com/manilabulletin Tiktok: https://www.tiktok.com/@manilabulletin  #VPSaraOnTrial #ManilaBulletinOnline #ManilaBulletin #LatestNews

Transcript

00:00You also confirm, sir, that you have no personal knowledge whether there is any trust agreement between the Vice President

00:06or any of the registered shareholders in GenCorp Industries, Inc. or other corporations.

00:13Tama po ba?

00:14Tama po.

00:15In fact, sir, you can confirm that trust agreements are generally not required to be submitted with the Securities and

00:22Exchange Commission kasi itong mga agreements na to between the parties naman. Tama po ba?

00:27Tama po.

00:28Pero, yung exception dito ay ang mga voting trust agreements. Tama?

00:33Tama po.

00:33Kasi, sa ilalim ng ating batas, Section 58 of the Revised Corporation Code, kapag may voting trust agreement, dapat sinusumite,

00:42specific po yung batas natin, ang certified true copy ng voting trust agreement na yan sa Commission or SEC. Tama

00:48po ba? Naalala nyo yan?

00:49Tama po.

00:50And you confirm, sir, that in the records that you perused and reviewed for all these corporations, including GenCorp Industries,

00:58Inc., walang voting trust agreement na CTC na sinumite sa kumpanya nyo.

01:03Wala pong application on that.

01:04So, you confirm, sir, that your testimony relating to trust agreements in general or that hypothetical scenario is only based

01:13on possibility and speculation. Tama po ba?

01:16Objection. Misleading, Your Honor.

01:18I am not. I am asking the witness to confirm whether my statement is correct. I am not saying that

01:24statement was misleading or speculation.

01:28Your Honor, the witness is not speculating.

01:30Can we allow our attorney to state his objection?

01:32Yes, Attorney, Your Honor.

01:33Witness is not speculating, Your Honor.

01:35He's testifying on the basis of his more than 30 years of experience with the SEC, Your Honor.

01:41He's not merely speculating.

01:45If he knows counsel, I'll allow it. I'll allow it.

01:49Maraming salamat.

01:51Thank you, Your Honor.

01:53If the objection is with respect to the word speculating, then he can, he's a lawyer, he can say whether

02:01he is or he's not.

02:02Attorney Delosario, kindly answer.

02:14Attorney Delosario, you confirm possibility or kuro-kuro lang po.

02:23Tama.

02:23Maraming salamat, Attorney Delosario.

02:34Attorney Delosario.

02:36Attorney Delosario.

02:37Attorney Delosario.

02:38Attorney Delosario.

02:39Attorney Delosario.

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