Aquino loses NAIA 3 case By Ninez Cacho-Olivares Editor-in-Chief 01/03/2011

ICSID AWARD REVOKED; EU, BUSINESS LEADERS CALL FOR ROW SETTLEMENT

Aquino loses NAIA 3 case

By Ninez Cacho-Olivares Editor-in-Chief 01/03/2011

President Aquino and his government uncorked the champagne too early while announcing that he and the government lawyers had won the Ninoy Aquino International Airport 3 (NAIA-3) case filed by both German airport operator Fraport AG and Piatco (Philippine International Air Terminal Co.) against the Philippine government, to the point of even congratulating the Philippine lawyers, retired Justice Florentino Feliciano and then lawyer for the government, Lourdes Sereno, who he later appointed to the high court, as a reward for her winning the case for the government.

All told, the government lawyers charged the Philippine government a whopping $50 million, which was deemed excessive, and a waste of funds, after a final decision of an Ad Hoc Committee in Washington overturned the ICSID (International Centre for Settlement of.... MORE

Source:  The Daily Tribune

URL: http://www.tribuneonline.org/headlines/20110103hed1.html