Marsteel Consolidated, Inc. (MC) is primarily engaged in investment holding activities. At present, its investment portfolio is composed of holdings in companies involved in commercial operation, development and pre-operating stages. The Company was placed under restriction by the Philippine Government through the Presidential Commission on Good Government under the writ of Sequestration dated 22 September 1986, pursuant to Executive Order No.1. The sequestration order covers all assets, properties, records and documents. The Company is directed to desist from doing any act, directly or indirectly, which may lead to dissipation, concealment and transfer of the sequestered assets, properties, records and documents, and to disburse funds only to support the routine or day-to-day operations. On October 24, 1991, the Sandiganbayan issued a resolution lifting the writs of sequestration issued against the Company. Source: SEC Form 17-A