SC junks investors’ plea vs. Kapa closure

MANILA The Supreme Court (SC) on Tuesday dismissed the petition filed by Rhema International Livelihood Foundation Inc,. or Cirfund, a key investor of the controversial Kapa Community International Ministry, seeking to stop the closure of the firm.

In a message to reporters, court spokesman Brian Keith Hosaka confirmed the suit filed last June 21 was dismissed by the court en banc Monday.

In a petition filed by Manuelito Traya and Roberto Apduhan, Sr., through lawyer Engracio Icasiano, they asked the High Court to stop the Securities and Exchanges Commission (SEC) from pursuing Kapa's closure.

They asked the court to expunge "Cirfund from the list of the unregistered investment entities as it is an online platform of Rhema International Livelihood Foundation, Inc. and further declare that [] is backed up with hard documents that support the legality of its business act and deeds, and Kapa to resume their religious activity."

It also sought that all respondents President Rodrigo Duterte and SEC Chairman Emilio Aquino be ordered "to pay the compensatory damages amounting to PHP3 billion for allegedly destroying Cirfund an online platform project of [Rhema] and be dismissed from the office and the President be submitted for an impeachment proceedings for culpable violation of Article II, Section 6 and Article III known as the Bills of Rights of the Philippine Constitution."

The SEC, through Chairman Aquino, iasued in February a cease and desist order after it received reports on the recruitment and solicitation activities of Kapa.

It has subsequently filed criminal charges against the group's founder, Joel Apolinario, and other officers. (PNA)

Source: Philippines News Agency

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