A high-stakes corporate civil war has ignited within one of the Philippines’ most powerful dynasties. The majority faction of the Lopez clan is reportedly preparing an extensive legal offensive against energy tycoon Federico “Piki” Lopez and the leadership of First Gen Corporation, marking a dramatic fracture in the family empire.
According to sources from The Philippine Star, the group led by former ABS-CBN Chairman Emeritus Eugenio “Gabby” Lopez III—which controls 71% of the ultimate parent firm, Lopez Inc.—is set to file multiple cases against Piki Lopez, First Gen officers, and the company’s independent directors as early as Friday, April 24.
The Battle Over “Hidden Documents”
At the heart of the impending litigation is a demand for transparency regarding massive energy deals conducted in 2025. The Gabby Lopez camp is expected to request subpoenas for what they term “hidden documents,” specifically targeting:
- The investment agreements surrounding First Gen’s ₱50 billion sale of a 60% stake in its natural gas business to Prime Infrastructure.
- The details of First Gen’s subsequent acquisition of a 33% interest in Prime Infra’s hydropower portfolio.
To execute this legal maneuver, the family majority has reportedly enlisted the services of three separate law firms.
A House Divided: The Fight for Lopez Inc.
This legal volley serves as a counter-strike to an existing complaint filed by Piki Lopez in the Mandaluyong City Regional Trial Court. Piki is currently suing his cousins—Eugenio “Gabby” Lopez III, Rafael Lopez, Miguel Ernesto Lopez, Martin Lopez, and Maria Eugenia Brown—in their capacities as directors of Lopez Inc.
Piki is seeking reinstatement as president of the parent company, arguing that his ouster during a February 27, 2026, board meeting was illegal.
He alleges his removal was retaliation for his refusal to move “₱2 billion in reserve funds from Lopez Inc. as fresh capital for the media giant ABS-CBN,” which has faced severe financial strain since losing its broadcast franchise in 2020.
”Loss of Trust” vs. Corporate By-Laws
The majority faction tells a different story. They maintain that Piki was removed via a 5-2 board vote specifically “for cause and loss of trust.”
While the family majority asserts that the company’s by-laws grant them the authority to fire any corporate officer at will, Piki has successfully secured a court order to block his ouster indefinitely, keeping him in his post for now as the legal battle lines are drawn.
As the April 24 deadline approaches, the rift threatens to reshape the leadership of the entire Lopez Group, including major subsidiaries such as Lopez Holdings, First Philippine Holdings, and Energy Development Corporation.