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MANILA, Philippines—The Supreme Court has granted the bid of the Development Bank of the Philippines to stop the order of the Commission on Audit (COA) to return the P170 million given to the bank’s employees in the form of Governance Forum Productivity Award (GFPA).
“The Court granted the prayer of petitioner DBP for a temporary restraining order (TRO) against the enforcement of the ruling of the COA disallowing the grant of the GFPA in the sum of P170,893,689.00 to the employees of DBP,” high court’s Information Chief Theodore Te said at a press conference.
“The TRO is effective immediately and until further orders from the Court,” Te further said.
The GFPA was approved by the DBP board of directors. Its aim was to help “achieve industrial peace” amid a labor dispute between the bank and its employees over allowances.
But COA said GFPA had no legal basis.