Tribunal asked to compel Villar firm to pay P345M 04/11/2010

2007 SC RULING ORDERS MANUELA CORP. TO PAY LECA REALTY Tribunal asked to compel Villar firm to pay P345M 04/11/2010 A company claiming more than P345 million from a company the family of Nacionalista Party (NP) presidential bet Manuel Villar Jr. has filed a petition with the Supreme Court (SC) to overturn a lower court’s ruling suspending Manuela Realty Development Corp.’s (Manuela Corp.) payment of its debts to Leca Realty Corp. (Leca Realty). The Tribune obtained a copy of the petition for certiorari and mandamus of Leca Realty filed in September last year questioning the order of the Las Piñas City regional trial court on Aug. 20 last year that “denied for lack of merit” Leca Realty’s motion for a writ of execution of the SC ruling. On Sept. 25, 2007, the SC issued a decision ordering, among others, Manuela Corp. to pay the rentals and all arrearages plus interest at six percent a year to Leca Realty. It said that upon finality of the decision, “the interest (on the debt) shall be 12 percent per annum until fully paid.” Leca Realty computed Manuela Corp.’s debts, made up of unpaid rents, plus interests had run up to more than P345 million. Manuela Corp., originally owned by the family of Senator Villar’s wife, Las Piñas Rep. Cynthia Aguilar Villar, contested before a court in Las Piñas, tha family’s home turf, a motion to execute the high court’s order, arguing that the property firm is still undergoing rehabilitation, thus debt payments should be suspended..... MORE Source:  The Daily Tribune URL: http://www.tribuneonline.org/headlines/20100411hed1.html

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