Megaworld Corp. has expressed confidence that it will win a legal battle against construction firm Datem Inc.
“The court’s order lifting the Writ of Preliminary Attachment (WPA) in favor of Megaworld paves the way for the unraveling of the truth. Datem has the burden of proving its ridiculous claims,” the company said in a statement.
“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 company’s integrity.”
The Quezon City Regional Trial Court last week has ordered Megaworld Corp. to set aside P873.32 million as a counterbond to cover the potential obligation claimed by construction firm Datem Inc.
“Finding the counterbond to be sufficient security for the payment of claims in judgment sought by plaintiff, the Writ of Preliminary Attachment issued on 15 November 2023 is hereby immediately discharged,” Judge Rochelle Yvette D. Galano of Branch 105, Quezon City Regional Trial Court, said in an order dated November 24.
Datem has filed a lawsuit to force Megaworld to honor a 2022 mutual agreement, in which the property developer committed to pay P873.324 million for the contractor’s finished work.
It accused Megaworld of moving the deadlines by introducing new and additional deductions to be charged against Datem, which were not previously discussed in the mutual agreement.
Datem was able to get a court order to freeze some of Megaworld’s assets, which the court has lifted with the posting of the counterbond.
In a statement, Datem said that, if it wins, this counterbond from Megaworld is intended to act as a safety net, paying for the liability it owes to the construction firm.