MANILA, Philippines - The Court of Appeals (CA) has junked an attempt of a creditor to stop the Clark Development Corp. (CDC) from bidding out the operation and management of the Mimosa Leisure Estate in Pampanga.
In a 23-page decision last week, the CA’s Eighth Division dismissed the petition of Asset Pool SPV-AMC Inc. and affirmed the June 2008 ruling of the Regional Trial Court Branch (RTC) 62 in Angeles City denying the creditor’s motion for the issuance of a temporary restraining order (TRO) enjoining CDC from proceeding with the bidding.
The appellate court said the RTC “correctly ruled that it was devoid of any jurisdiction” to entertain the creditor’s application for TRO and writ of preliminary injunction.