The Regional Trial Court of Bacolod City has denied a plea to immediately enjoin the JVA between Primelectric Holdings Inc., a subsidiary of the Iloilo-based More Power Corp., and Ceneco signed last June 3.
THE Regional Trial Court of Bacolod City has denied a plea to immediately enjoin the Joint Venture Agreement between Primelectric Holdings Inc., a subsidiary of the Iloilo-based More Power Corp., and Central Negros Electric Cooperative signed last June 3.
The petitioners filed a petition last week seeking the declaration of nullity of the JVA with a prayer for the issuance of a TRO and/or a writ of preliminary injunction. “For non-compliance with the specific provisions of the law, the application for the issuance of a temporary restraining order is denied,” it added.
The ratification of the signed JVA of the member-consumers through the three weekend plebiscites will start on June 24.
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