FINMAT International Resources Inc., one of the major contractors of Okada Philippines, faces a lawsuit after construction supplier Golden Mile Enterprises (GME) filed a case before a Regional Trial Court in Pasig City for nonfulfillment of its obligations.
The latter accused Finmat owner Reynaldo de Jesus, with office address at Caniogan, Pasig City, for failing to settle the sum of P68,237,818.80 as the total amount of building materials it ordered during the construction of the integrated entertainment resort and casino facility located in The Entertainment City in Parañaque.
Per a 21-page complaint, Finmat tapped the services of GME for the supply and application of the epoxy-injection project worth P2.7 million in May 2016.
Several other projects followed in 2017, with an amount reaching over P60 million.
Under the contract, the contractor would pay the construction supplier upon the completion of the project while payment would be made once the first party, Okada, settled its obligation to Finmat.
Faithful to the agreement, GME supplied the needed materials and performed the necessary works. It also made extra works not specified in the contract.
When the project was completed, GME demanded payment for the finished contract.
Finmat Operation Manager Robert Tayag asked for a “little more time” to pay. Lawyer Ferdinand Topacio, who represented GME, gave in to the request of Finmat since it was “a reputable firm.”
On September 3, 2018, the GME again demanded full payment for the completion of the project.
Finmat refused anew to settle its dues on the pretext that its collection from Okada remained unpaid.
It was found out, however, that the hotel and gaming firm already paid its contractor, and yet did not pay GME of its unsettled obligation.