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                    [ArticleID] => 229672
                    [Title] => Court rules vs MWSS drawdown on Maynilad’s $120-M standby LC
                    [Summary] => The Quezon City Regional Trial Court has issued a ruling prohibiting the Metropolitan Waterworks and Sewerage System (MWSS) from drawing on the $120-million standby letter of credit issued by Maynilad Water Services Inc.


In its order, the Court said MWSS’ act of seeking on Nov. 24, 2003 for the payment from the banks of $98 million out of the $120-million standby letter of credit or any similar act is violative of the stay order.


                    [DatePublished] => 2003-11-29 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1804021
                    [AuthorName] => Zinnia B. Dela Peña
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COMMERCIAL FORTIS BANK

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                    [ArticleID] => 229672
                    [Title] => Court rules vs MWSS drawdown on Maynilad’s $120-M standby LC
                    [Summary] => The Quezon City Regional Trial Court has issued a ruling prohibiting the Metropolitan Waterworks and Sewerage System (MWSS) from drawing on the $120-million standby letter of credit issued by Maynilad Water Services Inc.


In its order, the Court said MWSS’ act of seeking on Nov. 24, 2003 for the payment from the banks of $98 million out of the $120-million standby letter of credit or any similar act is violative of the stay order.


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abtest

Court rules vs MWSS drawdown on Maynilad’s $120-M standby LC

By Zinnia B. Dela Peña | November 29, 2003 - 12:00am

The Quezon City Regional Trial Court has issued a ruling prohibiting the Metropolitan Waterworks and Sewerage System (MWSS) from drawing on the $120-million standby letter of credit issued by Maynilad Water Services...

Business