C06289-2017 |
The Exchange does not warrant and holds no responsibility for the veracity of the facts and representations contained in all corporate disclosures, including financial reports. All data contained herein are prepared and submitted by the disclosing party to the Exchange, and are disseminated solely for purposes of information. Any questions on the data contained herein should be addressed directly to the Corporate Information Officer of the disclosing party.
Subject of the Disclosure |
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Complaint against Philippine National Oil Company ("PNOC"). |
Background/Description of the Disclosure |
Complaint for Resolution and Reconveyance, and Damages, with Verified Ex-Parte Application for 72-hour Temporary Restraining Order and Verified Applications for 20-day Temporary Restraining Order and Writ of Preliminary Injunction. |
Name of the court or agency in which the proceedings are pending | Regional Trial Court, Mandaluyong |
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Date Instituted | Oct 20, 2017 |
Docket Number | - |
Principal Parties |
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Petron Corporation and PNOC. |
Nature and description of the legal proceedings |
Complaint for Resolution and Reconveyance, and Damages, with Verified Ex-Parte Application for 72-hour Temporary Restraining Order and Verified Applications for 20-day Temporary Restraining Order and Writ of Preliminary Injunction. |
The effect(s) on the Issuer's business or operations, if any |
The properties subject of the lease were only conveyed to PNOC by the Company pursuant to the Philippine Government’s privatization plan in 1993 and in consideration for the Company’s right to lease the subject properties and to renew such lease. |
Other Relevant Information |
Please see attached letter dated October 20, 2017. |
Name | Jhoanna Jasmine Javier-Elacio |
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Designation | Legal Manager and Assistant Corporate Secretary |