Property developer Megaworld Corp. on Monday welcomed a local court’s order lifting the writ of preliminary attachment against the company in relation to the case filed by contractor DATEM Inc.
“The court’s order lifting the writ of preliminary attachment in favor of Megaworld paves the way for the unravelling of the truth,” Megaworld said in statement.
A writ of preliminary attachment is a court order against the company and its assets while the legal proceedings are ongoing.
Megaworld said DATEM would now have the burden to justify its “ridiculous claims.”
“Megaworld is confident that in due time and with a fair trial, justice will prevail in its favor. This is just a start of our victory in defending our integrity,” the developer said.
Quezon City Regional Trial Court (RTC) Branch 105 presiding Judge Rochelle Yvette Galano, in an order dated Nov. 24, 2023, lifted the WPA issued against Megaworld.
It lifted the WPA after Megaworld posted P873.3 million in counterbond.
DATEM said the counterbond would act as a safety net for the company in case the court decides in its favor.
Megaworld earlier said it had not evaded any substantial claims from DATEM despite the latter’s alleged “gross negligence” and “repeated failure” to fulfill its obligations with the property firm.
It said DATEM’s demand for a huge amount of claims and adjustments was unreasonable considering “its poor performance” as a project contractor.
Megaworld said DATEM’s move to have its assets frozen was “ridiculous and absurd” as the amount they were claiming represented only 0.2 percent of Megaworld’s total assets.
