DECISION IS ‘ONE ADDED TELLING BLOW ON RP INVESTMENTS’
Piatco blasts RTC ruling, goes to CA
05/26/2011The controversy on the issue of just compensation is far from over.
Philippine International Air Terminal Corp. (Piatco), the consortium that built the Ninoy Aquino International Airport Terminal 3 (NAIA-3), slammed the ruling made by Judge Eugenio de la Cruz of Pasay Regional Trial Court’s Branch 117.
This decision was promulgated last May 23, 2011 ordering the government to pay Piatco a mere $175,787,245.10 for taking the NAIA-3 built with no less than $470 million of funds from private investors, including Fraport AG of Germany.
In a statement issued yesterday to the media, Piatco, through its vice president for legal and public affairs, lawyer Moises Padilla, said that Piatco’s total claim for just compensation is $846,428,946 to include attendant costs, interests, and adjustments to inflation..... MORE
Source: The Daily Tribune
URL: http://www.tribuneonline.org/headlines/20110526hed1.html
0 comments
Post a Comment