The personalities behind the companies that Tiu is suing — Martin and Daniel Subido, and Edgardo Lacson — have long been associated with the Binay family. Tiu himself was once accused of being a Binay dummy.
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The 2023 agreement assigned Tiu’s 750 million Greenergy shares to MIS for P187.5 million. MIS was also obligated to pay the additional P562.5 million needed to fully cover the subscription. But Tiu claims that although he signed an acknowledged receipt for the P187.5 million, he never actually received the money.
What led to this deal in the first place? Months before, Tiu had begun to divest management responsibilities after he was shortlisted for the position of agriculture secretary. “They were always working for me for decades,” Tiu told Rappler in an interview on Thursday, August 15. “It’s really a big surprise.”
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