PHILIPPINE REAL ESTATE and RELATED NEWS in and around the country . . .
.
.

Court orders Harbour Centre assets attached, cites intent to defraud Home Guaranty Corp.

Written by  Tribune
Friday, 28 September 2012 00:00 [ tribune.net.ph ]

The Makati Regional Trial Court (RTC) Branch 146 issued an order dated Sept. 24, 2012 directing the issuance of a writ of preliminary attachment against Harbor Centre Port Terminal Inc. (HCPTI) in order to secure the claim of Home Guaranty Corp. (HGC) amounting to at least P280 million, a press statement said.

The RTC found that the aborted transfer of HCPTI’s 65 percent share in Manila North Harbor Port Inc. (MNHPI), a joint venture company with Petron Corp., to a holding company of the Romero family, Harbor Center Port Holdings Inc. (HCPHI) shows the intent to defraud HGC that would render any judgment against HCPTI illusory.

The RTC ordered its Branch Sheriff, upon posting of a bond by HGC, “to attach the properties, real or personal of HCPTI anywhere in the Philippines or so much thereof as may be sufficient to satisfy HGC’s demand for P280 million.”

HCPTI is currently under the control of father and son, Reghis and Michael Romero.

The order granting the preliminary attachment stemmed from a counter-claim filed by HGC against HCPTI in connection with the unpaid usufructuary fees due to HGC since 2002.

The HGC, under the Housing and Urban Development Coordinating Council (HUDCC) chaired by Vice President Jejomar Binay, has intensified its efforts to implement the “tuwid na daan” policy of President Aquino.

In another case, HGC is seeking to recover its majority ownership in HCPTI from the Romero family. HGC’s complaint filed last Sept. 13 seeks the “nullification of conveyance” of at least 286 million shares of HCPTI to R-II Builders Inc., a corporation likewise owned and controlled by the Romero family.
_____________________________________________________________

real estate central philippines
Copyright ©2008-2017