Court orders Uniwide Sales to return P3.5B land to Tarlac City government
The Parañaque City Regional Trial Court (RTC) has ordered Uniwide Sales, Inc., to return seven hectares of land worth P3.5 billion to the Tarlac City government.
In a recent order, Branch 258 Judge Noemi Balitaan declared the termination of a May 16, 1996 lease agreement between the city government and Mansteel Corp.
Uniwide took possession of the land after Mansteel turned over its lease rights on the same month the agreement was struck. A commercial building and a terminal were built on the site.
“The court-appointed liquidator is hereby directed to turn over the premises covered by the aforesaid Memorandum of Agreement to the creditor City Government of Tarlac,” read the order.
The Tarlac City government had to ask the Parañaque court for remedy to reacquire the land, because Uniwide is undergoing corporate rehabilitation proceedings.