MANILA -- The STI Group of businessman Eusebio "Yosi" Tanco has succeeded in foreclosing on the Taft campus of beleaguered Philippine Womens University (PWU) in Manila after a public auction for this property attracted no bidder.
"The alumni, student and faculty have a better future with STI than with the present management of PWU and they will get a better and more relevant education under STI management."
In a statement issued after STIs disclosure on the foreclosure, PWU media director Lydia Benitez-Brown noted that PWU chair Helena Benitez had already filed a petition for rehabilitation which the family was hoping would give PWU a breathing space in the face of STIs foreclosure proceedings.
This investigation is unique that it is based on the opinions of a sample of graduate coordinators and directors whom were European White males (72.5%) females (27.5%) at one of the PWUs in Mid-Western USA.
For example, the need for planned recruitment and retention programs and the lack of financial resources have been deemed detrimental to initiating and sustaining diverse student population at PWUs for more than a fourth of a century (Fleming, 1985; Stewart, Russell & Brown 1997: Webster, Sedlacek & Miyares 1979).
Despite such limitations of this study, the findings are both timely and relevant for graduate faculty and administrators who seek better understand the barriers and strategies of recruitment and retention of a diverse graduate student population at PWUs. The findings of this investigation were considered unique because they represent the inception of a body of qualitative knowledge describing the opinions of a group of White males and female administrators at one of the PWUs in Mid-Western USA.
This rendered moot and academic the election contest filed by PWU, matriarch Helena Benitez and PWU president Jose Francisco Benitez against the STI group of businessman Eusebio Tanco.
In a disclosure to the Philippine Stock Exchange on Friday, STI said the RTC had dismissed the lawsuit filed by the PWU group against Tanco, STI president Monico Jacob, Maria Vanessa Rose Tanco, Joseph Augustin Tanco, Martin Tanco, Yolanda Bautista, Jesli Lapus, Teodoro Locsin Jr., Paolo Martin Bautista, Wilfred Racadio and Arsenio Cabrera.
The matriarch also said that the foreclosure proceedings would prevent PWU from paying its debts and would render it insolvent.
STI Holdings recently initiated extra-judicial foreclosure proceedings against PWU covering its Taft Ave.
STI Holdings earlier initiated extra-judicial foreclosure proceedings against PWU covering its Taft Ave.
It was noted that PWU was a non-stock, not-for-profit institution which has been supported by the Benitez family for the past 96 years.