Datem, a construction company, is making headway in its pursuit to collect nearly P1 billion from businessman Andrew Tan. The Quezon City Regional Trial Court has issued a freeze order to Megaworld, Tan’s company, and its associated banks.
Megaworld has been given 30 days to respond to Datem’s complaint, with potential consequences of a default judgment if they fail to do so. The legal action seeks to cover the amount of P873.324 million mentioned in the Writ of Preliminary Attachment issued in favor of Datem.
Datem took the matter to court to enforce a mutual agreement signed in September 2022, which requires Megaworld to settle outstanding bills for various projects. Several banks associated with Megaworld have also received a notice of garnishment.
The notice of garnishment has also been issued to several banks associated with Megaworld, including Asia United Bank, Union Bank of the Philippines, Bank of the Philippine Islands, Banco De Oro, China Bank, PS Bank, East West Bank, Maybank, Metropolitan Bank and Trust Co., and Rizal Commercial Banking Corp.
The Court Sheriff will serve the freeze order to Megaworld’s other banks.
The Court Sheriff will serve the freeze order to Megaworld’s other banks, and the garnishment order encompasses all personal properties owned or controlled by Megaworld. Banks have been advised not to transfer or dispose of the defendant’s property to any entity other than the court sheriff, with a requirement to respond to the court order within five days.
Source: PhilNews24 | November 18, 2023
