Are There Any Options for FCIB Employees?

Audrey Matura-Shepherd

Is there anything that can be done under the law that can provide an alternative to the peremptory measures being taken by government in ratifying the sale of FCIB’s assets?  That’s what we asked Matura-Shepherd, in her capacity as an attorney, bearing in mind the uncertainty surrounding the exit package.

Isani Cayetano

“As an attorney, would you concede that there may be some legal recourse?  I know it may be late to prevent the passage of the Vesting Act by seeking an injunction, but is there any other legal recourse that could take place between now and the time formalities of it all come to a conclusion?”

Audrey Matura-Shepherd, President, Christian Workers Union

“Yes there could be, but one of the ways we would know is if we can get an answer from the Labor Commissioner if FCIB has complied with all the regulations.  There are several legal provisions that they had to comply with.  In none of them we’ve been copied and it is unfortunate that we are not copied into it although we are the bargaining unit.  And so we are hoping that the letter that we send to the tripartite body would be answered so that we know because one of the thing is that by law what happens then that commitment under the existing CBA transfers to the other bank even if they sign a contract that says otherwise, you cannot contract out of the legislation.  The other recourse is that the law provides for them to go on strike action.  The government can appoint a tribunal and all of that but clearly from the indication of how the prime minister has acted we’re not even holding our breath that the provisions under the law they’ll be pushing in favor of the employees.”

Day-two of the Vesting Act resumes on Wednesday in the House of Representatives.