STI Group corners Benitez family

The STI Group of businessman Eusebio Tanco has cornered the Benitez family, owners of the contested Philippine Women’s University, and left them with no choice but to repay its debts to STI as it filed for foreclosure of the PWU Manila campus with a Manila court.

In separate statements e-mailed to the media on Wednesday, both camps were justifiying their side—the STI Group seeking extra-judicial help to foreclose the PWU Manila campus as the Benitez group was placed in “default” because of its inability to pay its debts, while the latter was contesting that STI’s foreclosure bid is without basis as they have sent the Tanco camp terms to pay all its debts.