Photo Release

Development of disputed property: Sen. Francis "Chiz" Escudero admonishes DMCI Homes president Alfredo Austria for developing part of a property that is the subject of a litigation during a public hearing being conducted by the Committee on Labor, Employment and Human Resources Development on Senate Resolution No. 692 or the Timely Enforcement of Judicial Decision in Labor Disputes Wednesday, November 29, 2023. “If one-third of the property is the subject of litigation and the decision is not yet final….what will happen? What will be the effect to your listed company? What if you lose? I think it is too presumptuous of you to assume that you will win in the cases. Prudence will dictate that you will slow down in the development, at least in this area (subject of dispute) and proceed with the development of the undisputed area,” Escudero said. Austria said he did not see anything irregular with the decision to develop the property in question since there was a previous settlement on the case but Escudero pointed out that the property is still a subject of litigation and DMCI lawyers recently filed a motion for partial reconsideration. (Bibo Nueva Espana/Senate PRIB)