Leadership Row Erupts at Philippine Conglomerate Over ABS-CBN Capital Infusion

A leadership dispute within Lopez Inc., one of the Philippines’ biggest conglomerates, led to the ouster of its president over what he said was a disagreement over a 2-billion peso ($33 million) capital infusion for media unit ABS-CBN Corp.

Federico Lopez sued some extended family members over his removal as president of Lopez Inc., the ultimate holding company of the Lopez family with interests spanning power generation and distribution, property, manufacturing and media. Federico claimed his ouster during a Feb. 27 board meeting was illegal and sought his reinstatement, according to a court filing.