No TRO yet against joint venture deal

By: Rosalie O. Abatayo August 16,2018 - 08:26 PM

A temporary restraining order against the signing of the P18-billion Joint Venture Agreement (JVA) to develop Kawit Island into an integrated resort had yet to be issued by a court.

As of 5pm on Thursday (August 16), a staffer in Branch 23 of the Cebu City Regional Trial Court (RTC) confirmed that no TRO has been issued against the signing of the joint venture deal.

Busay Councilman Amilo Lopez filed a petition for injunction for the issuance of a TRO to prevent the Cebu City government from signing the joint venture deal with the Gokongwei-led Universal Hotels and Resorts Inc. (UHRI) to develop the eight-hectare reclaimed lot into Isla dela Victoria.

Amando Virgil Ligutan, lawyer of the administration bloc Bando Osmeña Pundok Kauswagan (BO-PK), said the deal will push through at 5 pm Friday, August 17.

“No Temporary Restraining Order has been issued. That is a good development for the city and for everyone. Mere filing of a nuisance suit cannot stop the signing of the JVA and its eventual implementation,” Ligutan told Cebu Daily News.

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TAGS: AGAINST, deal, joint, No, TRO, venture, yet
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