THE Court of Appeals (CA) has permanently stopped the auction of the antenna tower of the People’s Television Network Inc.’s (PTNI) or PTV 4.
In 15-page decision penned by Associate Justice Noel Tijam, the CA’s Seventh Division granted a petition filed by PTV4 seeking a review of the decision of the Pasig City Regional Trial Court (RTC) Branch 153 which ordered the take-over of the transmitter tower located in Quezon City. PTV4 said the lower court committed abuse of discretion when it ruled in favor of New Vision in Media Marketing Inc. (NVMMI).
NVMMI claimed that PTV4 owed them P13,907,338,32.
The CA earlier stopped the public auction of PTNI’s property scheduled on February 15, 2013.
In its ruling, the CA said “the RTC committed grave abuse of discretion when it issued the assailed order contrary to the compromise agreement and without due regard to the Commission on Audit’s requirement.”