MANILA, Philippines - The Court of Appeals (CA) has upheld the control of businessman Reghis Romero II over Harbour Centre Port Terminal Inc. (HCPTI) after the CA issued a temporary restraining order (TRO) against a lower court decision ceding control of the terminal to a service provider.
In a four-page resolution, the Court of Appeals Special Second Division stopped a Pasig City Regional Trial Court from allowing service provider One Source Port Services, Inc. to manage the port facility.
“Considering that herein petitioners complied with this court’s Dec. 12, 2014 resolution and the extreme urgency of the matter involved and in order not to render nugatory and ineffectual whatever resolution/judgment may be rendered in the present petition, petitioner’s plea for a temporary restraining order is hereby granted, to be effective upon service and for a period of 60 lower court days, unless sooner lifted,” the CA said.
The CA Special Second Division composed of Associate Justices Danton Bueser, Remedios Salazar-Fernando and Pedro Corrales directed One Source to cease and desist from taking over the port terminal.
The CA ruling affirmed Romero’s control of HCPTI and the port terminal facility.
The lower court order practically handed over the ownership of the 10-hectare port terminal facility to One Source despite being a mere service provider as it ordered the Reghis Romero II-led HCPTI to cede management and control to a service provider hired by ex-HCPTI president and CEO Michael Romero.
The CA’s order dated Jan. 5, 2015 also restrained One Source Port Services, Inc. and “all its agents and representatives from entering, and taking control, management, and possession of HCPTI.”
Romero and his son Michael are locked in legal battle over the control of HCPTI as the elder Romero has accused former HCPTI officials of systematically stealing the corporation’s funds following an audit to determine why the company was consistently losing money, despite the millions of pesos in gross revenues received each month.
An intra-corporate dispute is pending before a Manila court.