Practice question
Warranted tracing establishes that H1 owns sixty percent of applicant M and is eighty percent genuinely Filipino-owned. H2 owns the remaining forty percent and is fifty percent genuinely Filipino-owned. Assume these are independent paths and no nominee issue remains. Under a stipulated sixty-percent requirement, what is correct?
- Both corporate blocks must be treated wholly foreign
- Forty-eight plus twenty gives sixty-eight percent traced Filipino interest, satisfying the numerical threshold.
- Sixty plus forty proves one hundred percent Filipino
- Every holding below sixty percent must be ignored completely in proportional tracing
- The two fractions must be averaged without weighting their M stakes
Legal references
- Narra Nickel Mining and Development Corp. v. Redmont Consolidated Mines Corp., G.R. No. 195580, January 28, 2015, main resolution: https://lawphil.net/judjuris/juri2015/jan2015/gr_195580_2015.html
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