Court asked to reverse ruling favoring Manila Bay Development Corp.
MANILA, Philippines—Small investors of Uniwide Holdings Inc. (UHI) asked the Paranaque Regional Trial Court to reverse the ruling of the Municipal Trial Court in favor of the Manila Bay Development Corporation (MBDC) which ordered Uniwide to vacate the leased premises in Parañaque.
The petitioners, led by Celso Eucogco, said the MTC has no jurisdiction to hear their case. MBDC filed a P808.5-million civil suit against UHI. However, under the rules, municipal courts are only allowed to handle suits involving amounts of P500,000 and below.
“The MTC has therefore no jurisdiction and all orders and judgment be issued in the case be declared null and void,” the investors told the Paranaque court in its petition, a copy of which was sent to reporters over the weekend.
They added that there was also no full payment of docket fees which means that the MTC did not acquire jurisdiction over the case.
A string of suits between UHI and MBDC is pending in courts.
There was also an estafa complaint filed against head of MBDC and two former Uniwide executives on the alleged questionable spending for the construction of its Coastal Mall and then defrauding P381 million more through the payment of unnecessary mall rentals.
Coastal Mall, which was envisioned in the 1990s to become the country’s biggest shopping mall complex, was built on a 10-hectare portion of MBDC’s 40-hectare Central Business Park II in Parañaque City at that time when Cabangis and Rey were Uniwide’s respective chief financial officer and controller.
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