A Pasay City regional trial court ordered yesterday the government to pay an initial $62 million as "just compensation" to the Philippine International Air Terminals Co. (Piatco), the builder of the Ninoy Aquino International Airport Terminal 3 (NAIA-3) that was expropriated last month.
In a four-page order, Judge Henrick Gingoyon of Pasay City RTC Branch 117 directed the Landbank of the Philippines branch in Baclaran, Parañaque City to release to Piatco $62,343,175.77 that the government has specifically made available for the expropriation proceedings.
Pending final court order and full payment of just compensation to Piatco, the government was allowed "to maintain, preserve and safeguard NAIA-3 or perform acts or activities in preparation for its direct operation" but prohibited it "from exercising acts of ownership like awarding concessions or leasing any part of the facility to other parties."
Source: Philippine Star
Get Fast Online Loan Approval at
www.tala.comLinkback:
https://tubagbohol.mikeligalig.com/index.php?topic=121663.0
