SC issues TRO on Globe Asiatique damage suit
MANILA, Philippines – Halting the implementation of earlier decisions by lower courts, the Supreme Court (SC) issued a temporary restraining order (TRO) on Delfin Lee’s Globe Asiatique Realty Holdings (GA) damage suit versus the Home Development Mutual Fund (HDMF or Pag-IBIG Fund), Thursday, December 12.
The SC issued the TRO on the January 2012 resolution by Makati Regional Trial Court (RTC) Branch 58, which ruled that GA was entitled to P6.5 million for interest and penalty payments. The order also covers a Court of Appeals ruling that denied Pag-IBIG's appeal for reconsideration.
The SC said the TRO is only "proper" because “the damages that HDMF (Pag-IBIG) has alleged that Globe Asiatique has caused already could amount to billions of Pesos.”
“If the motion for execution is granted, HDMF would be required to continue transacting with Globe Asiatique, which is already suspected of having swindled the government of billions of Pesos,” the resolution said.
The resolution, signed by Chief Justice Maria Lourdes Sereno, prohibited the CA and the respondents from implementing the two decisions that favored Globe Asiatique.
The SC also ordered GA and other respondents to comment on and “not file a motion to dismiss” the petition within 10 days from receipt of notice.
GA was alleged to have gotten at least P6.6 billion in housing loans granted to more than 1,000 false borrowers. Lee also made false representation and faked documents for the loan, a National Bureau of Investigation probe showed. – Rappler.com