Gov’t still has to pay Piatco for ‘just compensation’
By Aytch S. de la Cruz 08/03/2010 Malacanang’s elation over the dismissal by the Singapore arbitration body of the case against the government by the Philippine International Air Terminals Co. (Piatco) may be shortlived, especially since the arbitration body also dismissed the counter claim of the government that sought some $900 million against Piatco. More troubling for the Aquino government is the ruling by the arbitration body that the body’s decision does not in any way affect in any manner the “just compensation” to Piatco, being the builder of the air terminal, for expropriating the property. This means that the Aquino government will have to still pay hundreds of millions of dollars to Piatco. Malacañang also yesterday denied speculations that the government this early is considering engaging in an out-of-court settlement with Piatco after defeating it recently in an arbitration case filed at the International Criminal Court (ICC) in Singapore. President Aquino was quoted as saying that he is still awaiting a briefing on the details to move it forward so that NAIA-3 can be used to its maximum capacity in time and we’re targeting at the very least for the Christmas holidays,” Aquino said. “It is significant that in both of these arbitration cases they have lost and the government and the people have won and now they are now (going to) go back to our court system to be guided under our laws,” he added.... MORE Source: The Daily Tribune URL: http://www.tribuneonline.org/headlines/20100803hed3.html |
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