THE Supreme Court yesterday put an end to the leadership controversy in the P14 billion Air Materiel Wing Savings and Loan Association Inc. after it affirmed the validity of the election of the new board members last Jan. 18.

In a 12-page resolution, the SC's Third Division through Associate Justice Consuelo Ynares-Santiago denied for lack of merit the omnibus motion filed by the group of retired Col. Luvin S. Manay against retired Col. Ricardo Nolasco Jr. and seven other members of the board.

Besides Nolasco, also elected as additional directors to complete the 11-member board were Thaddeus Estalilla, Morado Mercado, Ismael Abad, Ricardo Perido, Angel Tapac, Antonio Gumba, and Cesar Toledanes.

The eight directors, together with those elected in 2006 - Rolando Cacabelos, Odelon Mendoza, and Cedric Reyes - compose the 11-member board.

Manay and his group were earlier disqualified and declared ineligible to run as board members on the basis of irregularities uncovered by the Bangko Sentral ng Pilipinas when Manay's group was at the helm.

Since the stability of the AMWSLAI, a cooperative of more than 230,000 retired and active soldiers and policemen, is at stake, the SC found it necessary to settle once and for all the almost three-year leadership row.

"On a final note, it must be stated that the continuing battle of which group should sit in the governing body of the AMWSLAI has caused doubts and uncertainties in the minds of the hundreds of thousands who have invested their life savings therein. It affects not only the stability of this financial institution but of the economy at large. It is fitting that we should writ finis to this controversy, and allow the AMWSLAI to regain the confidence of its members and of the general public," the Court said.

It added that "no further pleadings shall be entertained."