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Bacolod City, Philippines Thursday, August 25, 2011
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SM lawyer
warns vs. contempt


The lawyer of SM Prime Holdings Inc. yesterday warned that if the Negros Occidental provincial government insists on signing the contracts for the sale and lease of its 7.7 hectare property in Bacolod City to Ayala it will risk being cited for contempt of court.

The Court of Appeals had earlier granted a 60-day temporary restraining order to SMPHI that claims it is the winning bidder for the purchase and lease of the property.

SMPHI lawyer Vincent Patrick Bayhon yesterday told ABS-CBN that the tenor of the TRO states that the provincial government cannot proceed with the sale or lease unless it is decided by court.

The TRO ends on Sept. 27.

The provincial government has sent the contracts on the sale and lease of its property to the Commission on Audit for review and approval.*CPG




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