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                    [ArticleID] => 362991
                    [Title] => Former Coral Reef operators attempt to regain ownership
                    [Summary] => 



The owner of the 36-hectare defunct Coral Reef Resort in Mactan Island is fighting to get back the property from the Philippine National Bank (PNB), claiming that the bank's foreclosure last year was illegal.


Coral Reef Resort company operators Japanese-led Palm Tree Estate Inc., and Bell Air Golf and Country Club accused the Lucio Tan-led PNB of an illegal foreclosure of the property.


"The terms of conditions were changed after the loan was constituted," legal counsel Judge Romulo Senining said in a press conference.


                    [DatePublished] => 2006-10-14 00:00:00
                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1298072
                    [AuthorName] => Ehda Dagooc
                    [SectionName] => Freeman Cebu Business
                    [SectionUrl] => cebu-business
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CONDOMINIUM AND GOLF CLUB

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                    [ArticleID] => 362991
                    [Title] => Former Coral Reef operators attempt to regain ownership
                    [Summary] => 



The owner of the 36-hectare defunct Coral Reef Resort in Mactan Island is fighting to get back the property from the Philippine National Bank (PNB), claiming that the bank's foreclosure last year was illegal.


Coral Reef Resort company operators Japanese-led Palm Tree Estate Inc., and Bell Air Golf and Country Club accused the Lucio Tan-led PNB of an illegal foreclosure of the property.


"The terms of conditions were changed after the loan was constituted," legal counsel Judge Romulo Senining said in a press conference.


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                    [ColumnID] => 133272
                    [Focus] => 0
                    [AuthorID] => 1298072
                    [AuthorName] => Ehda Dagooc
                    [SectionName] => Freeman Cebu Business
                    [SectionUrl] => cebu-business
                    [URL] => 
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abtest

Former Coral Reef operators attempt to regain ownership

By Ehda Dagooc | October 14, 2006 - 12:00am

The owner of the 36-hectare defunct Coral Reef Resort in Mactan Island is fighting to get back the property from the Philippine National Bank (PNB), claiming that the bank's foreclosure last year was illegal. Coral...

Freeman Cebu Business