Who's the boss?, page-2

The article reads:

Trouble is brewing over at Mt. Labo Exploration and Development Corp., as its employees are now unsure about who actually controls the company.It would seem the relationship between Sage Capital Partners Inc. and its Australian partner RTG Mining has gone sour, as Sage has reportedly sold its controlling stake to another company without RTG’s knowledge.

In a memo addressed to the staff of Mt. Labo, RTG implored all employees not to perform any duties nor provide any information to the representatives of the purported buyer.

“Any noncompliance would be deemed insubordination for which there are appropriate administrative actions,” the RTG officials said.
According to RTG, Sage is prohibited from selling any of its assets in Mt. Labo by virtue of a stay order issued by the Makati Regional Trial Court.The stay order resulted from a petition for involuntary rehabilitation of Mt. Labo filed by RTG, which claims that Mt. Labo and its parent company Sage have failed to meet their liabilities as they fell due. They also supposedly failed to pay other recurring liabilities to suppliers and creditors.

RTG also said that Sage has not infused any material amount of resources to Mt. Labo, unlike the Australian firm which has already spent millions of dollars on the Mabilo project copper-gold project in Camarines Norte.RTG also believes that the proceeds of the sale will only go to Sage’s pockets and will not benefit the employees in any meaningful way.

Because of all this, Mt. Labo’s employees are now at a quandary as to whose orders to follow—those of RTG which has, oddly enough, been calling the shots since the project started despite being a minority shareholder, or of the purported new majority owners.It is a tough decision for employees to make because the wrong choice might mean losing one’s job, which will be devastating during this ongoing pandemic.

As to who will prevail … abangan!