ILOILO CITY – The Panay Electric Company (Peco)is not giving up the fight after a rival firm completed taking possession of all its expropriated substations.
Estrella Elamparo, a legal counsel of Peco, also questioned why More Power Electric Power Corp. (More Power), owned by port tycoon Enrique Razon Jr., was being allowed to operate Iloilo City’s distribution facility even without a Certificate of Public Convenience and Necessity.
“They may have taken physical possession (of the substations) but the fight is not yet over. We will avail of all legal remedies (and) all these can still be undone once a proper ruling by a proper court is issued,” Elamparo said in a press conference in Iloilo City on Saturday.
Sheriffs of the Iloilo Regional Trial Court implemented a writ of possession covering distribution assets of Peco valued at at least P217 million starting Friday.
The assets were turned over to representatives of More Power who, last year, filed an expropriation complaint against Peco./lzb