Global Ferronickel Holdings Inc. (FNI) is urging the release of its embattled chairman, Joseph Sy, who continues to be detained in the Bureau of Immigration (BI) facility in Bicutan, Taguig City.

In a stock exchange filing on Tuesday, Sept. 9, FNI reported that the Regional Trial Court (RTC) of Taguig has granted the “very urgent motion” for execution pending appeal and admission to post bond ad cautelam filed on behalf of Sy.

The company stated that the court issued the decision due to the BI’s “glaring lack of execution” of the earlier writ of habeas corpus, which had directed Sy’s release from detention upon posting the prescribed bond, which has now been posted.

“This ruling constitutes a judicial affirmation that Mr. Sy’s continued detention had no legal basis and upholds his fundamental rights as a Filipino citizen,” the FNI said.

The RRC earlier ruled that the BI has no jurisdiction to detain or deport Sy, affirming his status as a Filipino citizen.

In its decision, the court pointed to Sy’s birth certificate, Philippine passports, and related evidence as “superior” proof of citizenship.

Citing jurisprudence, it held that the BI is “bound” by prior rulings dismissing deportation cases against the executive.

“The company wishes to assure shareholders, stakeholders, and the investing public that its business operations remain stable and unaffected by these developments,” it said.

Sy was apprehended by immigration officers on Aug. 21, at Ninoy Aquino International Airport (NAIA) Terminal 3. He was the subject of a BI investigation over his alleged illegal acquisition of Philippine documents.

The Philippine Chamber of Commerce and Industry (PCCI), in a statement, said Sy’s continued detention undermines the country’s image as a destination for foreign investments.

“Everyday the BI defies this order will send the wrong signals to potential investors in the country,” the PCCI said.

“The integrity and credibility of this massive effort, which requires huge capital mobilization and takes at least five years to execute, is put at risk if the court’s order for Sy’s release is delayed,” it added.

The industry group said the country is already “suffering” in other sectors such as tourism due to uncertainties in the country’s business environment.

This is a direct result of inconsistencies in policy implementation and adherence to the rule of law, it said.