MANILA PRINCE HOTEL, petitioner v GSIS, respondent G.R. No. 122156; February 3, 1997
Sec 10, Art. XII of the 1987 Constitution In the grant of rights, privileges, and concessions covering the national economy and patrimony, the State shall give preference to qualified Filipinos. National Patrimony MANILA PRINCE HOTEL, petitioner v GSIS, respondent (privatization) G.R. No. 122156; February 3, 1997 TOPIC: Non-Self Executing v Self Executing Constitutional Provisions FACTS: The Government Service Insurance System (GSIS) decided to sell through public bidding 30% to 51% of the issued and outstanding shares of the Manila Hotel (MHC). In a close bidding, two bidders participated: Manila Prince Hotel Corporation (MPHC), a Filipino corporation, which offered to buy 51% of the MHC at P41.58 per share, and Renong Berhad, a Malaysian firm, with ITT-Sheraton as its hotel operator, which bid for the same number of shares at P44.00 per share, or P2.42 more than the bid of petitioner. Pending the declaration of Renon...