PNCC: Rising GOCC Phoenix-5
WE shall present a blow-by-blow account of such litigation odyssey (in exactly the same manner the Supreme Court in the mentioned cases pictured it) to provide Juan de la Cruz with a clear understanding on how such premeditated plunder assault, vis-à-vis PNCC’s funds was worked out by GMA cohorts, and how PNCC Board hero Luis F. Sison waged his do-or-die battle to save them!
Legal tussle started on January 15, 2001 when Radstock sued PNCC for collection before the Regional Trial Court of Mandaluyong, Branch 213.
Rumors had it that a former RTC judge in Mandaluyong and the acknowledged political kingpin therein who was to later become Commission on Elections chair, before falling into eternal disgrace with the NBN-ZTE deal, may have had some “behind-the-scene in-volve-ment” in Radstock’s legal strategy.
Small wonder, then, that barely eight (8) days from the filing of the Radstock collec-tion suit, the trial court right away issued a Writ of Preliminary Attachment against PNCC, ordering PNCC’s bank accounts garnished and several
of its real properties attached.
On February 14, 2001, PNCC sought to reconsider the lower court’s said garnishment/attachment Order and simultaneously filed a motion to dismiss Radstock’s collection suit.
Both motions, as expected, were quickly denied by the court, prompting PNCC to raise such denial to the Court of Appeals via a petition for Certiorari docketed as CA-G.R. SP No. 66654. The CA also denied this petition in its Resolution dated January 22, 2003.
PNCC elevated this CA’s denial to the Supreme Court, docketed as G.R. No. 156887.
Then, the plot began to thicken, so to speak. On January 19, 2001, the PNCC
Board, under new Chairman Atty. Luis F. Sison, bravely issued a resolution REVO-KING BD-090-2000!
The Mandaluyong RTC, however, continued to hear the collection suit filed by Radstock against PNCC and on December 10, 2002, rendered its Decision in favor of Radstock and against PNCC, ordering the latter to pay plaintiff Radstock the whopping amounts (with interest from October 15, 2001) of a) P13.1 Billion and b) P10 Million as attorney’s fees. (To be continued)