Metro Manila (CNN Philippines, November 27) — While construction firm DATEM Inc. welcomed real estate giant Megaworld’s move to set aside ₱873.32 million as a counterbond, the company said it has “no bearing” in its legal case seeking to collect alleged unpaid dues.
The Quezon City Regional Trial Court ordered the lifting of the freeze order on Megaworld assets after the group posted the ₱873.32-million bond.Finding the counterbond to be sufficient for the payment of claims in judgment sought by plaintiff, the Writ of Preliminary Attachment issued on 15 November 2023 is hereby immediately discharged,” Presiding Judge Rochelle Yvette Galano said in an order released Nov. 24.In a statement issued over the weekend, DATEM said the bond would serve as its “safety net, paying for the liability it owes to the construction firm” once it wins the legal battle.It is crucial to note that this development has no bearing on the core of our lawsuit against Megaworld, which seeks to secure payment for finished projects where work has been completed,” it said.DATEM filed a case against the property titan over its alleged failure to settle financial obligations for finished works.Megaworld, however, earlier said DATEM failed to complete its construction commitments, prompting it to tap other contractors. The company also said DATEM must be held accountable “for their gross negligence to project timelines.
