PHILIPPINES Law and Practice Contributed by: Raoul Angangco, Sylvette Y Tankiang, Kristin Charisse C Siao and Ma Carla Mapalo, Villaraza & Angangco
8.2 Typical Timeline for Appeals A final order or decision of the PCC will be appeal - able to the Court of Appeals within 15 days from the notice of the final order or decision in accordance with the Rules of Court. The appeal will not stay the final order or decision, unless the Court of Appeals directs otherwise upon such terms and conditions as it may deem just. In the appeal, the PCC will be included as a party respondent to the case. There have been successful appeals of PCC deci - sions. The Court of Appeals reversed the PCC’s deci - sion and upheld the legality of the co-acquisition by PLDT Inc and Globe Telecom Inc, two of the biggest telecommunications providers in the Philippines, of the telecommunications assets of San Miguel Corp. 8.3 Ability of Third Parties to Appeal Clearance Decisions As a general rule, third parties cannot appeal a deci - sion clearing a transaction. The PCC may also initiate and conduct a fact-finding or preliminary inquiry to enforce the PCA upon a verified complaint filed by an interested party. 9. Foreign Direct Investment/Subsidies Review 9.1 Legislation and Filing Requirements The Philippines does not have foreign direct invest - ment or foreign subsidies legislation that requires sep - arate filings other than those required under the PCA.
• information that relates to the business of any of the merger parties but is not commercially sensitive in the sense that its disclosure would cause harm to the business; • information that reflects the merger parties’ views of how the competitive effects of the merger could be analysed; and • information that is general knowledge within the industry or that would likely be verified by any diligent market participant or trade, finance or economic expert. 7.4 Co-Operation With Other Jurisdictions At any time before the case is submitted for decision, the PCC may consult a sector regulator or other rel - evant government agencies from foreign jurisdictions, if appropriate. Information, including documents, will not be com - municated or made accessible by the PCC, insofar as it contains trade secrets or other confidential informa - tion, the disclosure of which is not considered neces - sary by the PCC for the purpose of the review. If a transaction is under review in multiple jurisdictions, parties to the transaction may waive the confidential - ity protections contained in order to allow the PCC to exchange otherwise protected information with com - petition authorities in other countries. 8. Appeals and Judicial Review 8.1 Access to Appeal and Judicial Review Parties to the merger may file a motion for reconsid - eration of a decision order or resolution of the PCC within 15 days from receipt thereof. A motion for reconsideration will be based on either of the follow - ing grounds: • the evidence on record is insufficient to justify the decision order or ruling; or • the decision order or ruling is contrary to law.
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