Roy, Ricardo Jr., and Emily Yanson, alongside Celina Yanson-Lopez, often referred to as the ‘Yanson 4,’ recently expressed their willingness to settle their dispute with other members of the family, including their mother Olivia Yanson, along with siblings Ginette Yanson-Dumancas and Leo Rey Yanson, president of Vallacar Transit Inc. (VTI), the parent company of the Ceres bus liner.
In a joint statement issued by Roy Yanson’s three other siblings, the group said they are prepared to come to the table but said any settlement must be made within the bounds of the law.
“While reconciliation is not farthest from our minds, it must, however, be within the bounds of law and justice,” said Emily Yanson. “Since Leo Rey himself wants to end this via the conciliation route, everything must be in accord with the law.”
“Leo Rey must end extra-legal acts, which complicates this issue,” she added.
In addition, she also rehashed the family’s shareholders’ agreement, signed in October 2013 and including the signatures of Leo Rey Yanson and Olivia Yanson, affirming the ‘Yanson 4’ control 62 percent of the company.
In response to the special board meeting called by the company president last Monday, Emily Yanson questioned its legitimacy as his camp represents 38 percent of the share.
Meanwhile, Celina Yanson-Lopez, VTI chief financial officer, called the board meeting a “waste of time” and claimed there was no quorum.
“Leo Rey and Ginette hold only 38 percent of the shares, while our mother, Olivia, does not have any shares of the company as reflected in the 2019 SEC (Securities and Exchange Commission) General Information Sheet of VTI,” she added.
Earlier, the family matriarch said she is open for talks with her children.
Atty. Norman Golez, who serves as legal counsel for the elder Yanson, said she is seeking a return of her share of Yanson Group of Bus Companies stocks or her right to a vote among the company’s board of directors./DGB, WDJ