THE Court of Appeals (CA) has resolved a legal tussle between Global Gaming Philippines LLC (GGAM) and owners and operators of Solaire Resort and Casino–a casino, hotel and resort in Parañaque City (Metro Manila) that is owned by business tycoon Enrique Razon.
In a May 29, 2015 resolution penned by Associate Justice Carmelita Salandahan-Manahan, the CA’s Special 10th Division gave the lower court the green light to proceed with trial of the case.
The resolution was concurred in by Associate Justices Japar Dimaampao and Edwin Sorongon,
It threw back the case to Regional Trial Court (RTC), Branch 66, Makati City (Metro Manila), for further proceedings regarding recognition and enforcement of the arbitration tribunal’s order dated December 9, 2014.
The appellate court junked a petition filed by GGAM for being moot and academic.
GGAM’s petition stemmed from Razon’s Bloomberry Resorts and Hotels Inc. (BRHI), Sureste Properties Inc. (SPI) and Prime Metroline Holdings Inc. (PMHI) filing an urgent petition for issuance of interim measures of protection on January 17, 2014 before the RTC.
On January 20, 2014, the RTC issued a 20-day temporary order of protection restraining GGAM or facilities of the Philippine Stock Exchange from disposing of any of the 921,184,056 shares in BRHI beneficially owned by GGAM.
Subsequently, the lower court on February 25, 2014 issued an order directing issuance of writs of attachment and preliminary injunction.
BRHI, SPI and PMHI were required to post separate bonds worth P700 million for the issuance of the writ of attachment and P100 million for the writ of preliminary injunction to answer for any damages that GGAM may suffer as a result of the order.
The writs were issued on February 27, 2014, prompting GGAM to file its petition on March 11, 2014.
On March 28, 2014, the arbitral tribunal was constituted, and was followed by GGAM’s filing of a request for interim measures of protection before it on April 14, 2014.
On December 9, 2014, the tribunal issued an order regarding claimant’s application for interim measures of protection. This prompted GGAM to file its petition with the CA.
In its resolution, the appellate court ruled that GGAM’s petition has been rendered moot and academic by the arbitral tribunal’s order dated December 9, 2014.