Letter of Instruction No. 49, s. 1973

MALACAÑANG
MANILA

January 5, 1973

LETTER OF INSTRUCTIONS NO. 49

TO: The Secretary of National Defense

In view of the fact that Mr. Fernando Jacinto and his children, who constitute the majority stockholders and members of the Board of Directors of the corporations now under custody and possession of the government, pursuant to LOI 39, are not in the country, thereby preventing the settlement of the obligations of these corporations to legitimate creditors, it is now necessary to protect the interest of the government and the creditors of these corporations by taking over the management, control, and operation of all the corporations in which the Jacinto family have controlling interest.

You are therefore directed to take over the management, control, and operation of all the corporations in which the Jacinto family have controlling interest during the existence of the presentational emergency.

(Sgd.) FERDINAND E. MARCOS

Source: CDAsia