Question

Political

After a series of highly publicized congressional hearings, Congress enacted Republic Act No. 11999, which declared that the seven identified members of the Board of Directors of XYZ Investment Corporation were individually and collectively liable for the PHP 2 billion in investor funds lost in the collapse of XYZ's investment scheme. The law imposed a fine of PHP 100 million on each named director and disqualified them from holding any public office or position in any financial institution for life, without the need for a separate judicial trial. The named directors challenged the law as a bill of attainder. The OSG countered that Congress had the power to enact the law to protect the investing public and that the hearings provided sufficient procedural safeguards. Is Republic Act No. 11999 a bill of attainder? Explain. (Bar 2026 Syllabus)

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