The Lopez family majority has flagged another alleged “poison pill” tied to Federico “Piki” Lopez, warning that several key subsidiaries could fall into default if he is removed from First Gen Corp.

In a statement on Wednesday, the Lopez majority said Energy Development Corp. (EDC), First Balfour and First Gen itself could face defaults tied to provisions linked to a P25-billion standby letter of credit obtained by parent firm First Philippine Holdings Corp. (FPH).

The facility, secured from BDO Unibank, was meant to help fund First Gen’s P62-billion investment in Prime Infrastructure Capital Inc.’s hydropower business.