PANAY ELECTRIC Company, Inc. (PECO) is preparing to file a motion for reconsideration on the Court of Appeals’ (CA) temporary restraining order (TRO) against the implementation of a Mandaluyong court order that stops MORE Electric and Power Corp. (MORE) from taking over PECO’s assets. In a statement released late Friday, PECO said, “It is unfortunate that the Court of Appeals issued a TRO restraining the RTC of Mandaluyong City in Civil Case No. R-MND-19-00571-SC from enforcing its order enjoining MORE Power from impairing PECO’s rights.” PECO also said that the CA order would not mean that MORE Power can immediately proceed to expropriate the distribution assets of PECO. “At present, there is a Motion to Suspend Proceedings pending before the RTC (regional trial court) of Iloilo City wherein we argued that the threshold issue of the constitutionality of MORE’s legislative franchise has to be resolved first as a prejudicial question by the RTC of Mandaluyong City prior to any act of expropriation on the part of MORE.” PECO, whose franchise ended in January and failed to get a renewal from Congress, said it is ready to “continue to exercise and pursue all other legal remedies to defend our rights and protect the interest of the people of Iloilo against the unwarranted attempt of MORE to confiscate and take over our assets without due process in the guise of an unlawful expropriation procedure.” — Emme Rose Santiagudo
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