STI Group to foreclose Benitez properties

STI Holdings Inc. is set to proceed with foreclosure proceedings of the Benitez family’s properties in Quezon City and Davao as an extra judicial aid stemming from the family’s supposed inability to pay its obligations to the STI Group involving the Philippine Women’s University (PWU).

In a disclosure to the Philippine Stock Exchange on Monday, subsidiary STI Education Systems Holdings Inc. said that the properties will be foreclosed after the Manila Regional Trial Court dismissed the Benitez Group’s petition to include the properties in a rehabilitation program.