NOW Corp. says court ruling on telco affiliate’s petition ‘not yet final’
NOW Corp. said on Monday the appellate court’s decision on the petition of its affiliate regarding a government circular on new entrants seeking to become major telecommunications industry participants is still subject to remedies.
“NOW Corp. has been advised that NOW Telecom (Co., Inc.) has yet to receive the alleged Court of Appeals decision. Thus, it is still subject to NOW Telecom’s legal remedies and therefore, not yet final,” the listed company told the stock exchange.
“Further, the legal issues raised in the case are still covered by the sub judice rule which restricts comments and disclosures on legal issues in pending judicial proceedings,” it added.
To recall, Now Telecom filed in 2018 a petition for certiorari seeking to stop the National Telecommunications Communication’s (NTC) from implementing certain provisions of the terms of reference in the third telco selection process.
Now Telecom challenged the NTC requirement of a P700-million “participation security,” a P14-billion to P24-billion performance security, and a P10-million non-refundable appeal fee. A Manila court denied the petition.
Now Corp. also clarified on Monday that it is not a party to the Court of Appeals case.
“As it is not a party to said case, NOW Corp. has no knowledge of the details surrounding the alleged Court of Appeals decision,” it added. — Arjay L. Balinbin