Vallacar Transit suing one of its own over P380M debt

The board of directors of Vallacar Transit Inc. passed a resolution on 19 August authorizing the company’s legal team to recommend possible legal action/s against Ma. Lourdes Celina Y. Lopez over her alleged P380-million outstanding obligation to the company.

Lourdes Celina is the daughter of the Yanson matriarch Olivia Yanson, one of the founders of the controversial bus transport company.

The amount was based on an SGV audit report and on the results of the cash, property and asset inventory audit including documents at the main office and South Terminal in Bacolod City, according to Lawyer Jun Maxell Orlina.

Orlina said the stockholders of Vallacar Transit, the country’s largest bus transport company, on the same day elected a new set of board of directors who subsequently re-elected Leo Rey Yanson as the president of the company.

In a special stockholders meeting at the company’s main office in Barangay Mansilingan, Bacolod City, the stockholders including Yanson matriarch Olivia V. Yanson, elected Leo Rey Yanson, Olivia V. Yanson, Ginnette Y. Dumancas, and Charles M. Dumancas as members of the board of directors, said Orlina.

Following the election of the new directors, the board held a re-organizational meeting and re-elected Leo Rey Yanson as the president of the company.

Also elected were Charles M. Dumancas as vice president, Ginnette Y. Dumancas as treasurer, and Olivia V. Yanson as corporate secretary.

Vallacar Transit, is the largest subsidiary of the Yanson Group of Bus Companies and is the company behind Ceres Liner and Sugbo Transit.

The Yanson Group, the parent company, is one of the largest bus conglomerates in Southeast Asia which operates more than 4,000 buses nationwide.