Court denies TRO filed vs. joint venture agreement between Primelectric, CENECO

A regional trial court has denied the petition for a temporary restraining order on the joint venture agreement of Primelectric Holdings Inc. and Central Negros Electric Cooperative (CENECO).

The petition, filed by representatives of the Negros Consumers Watch and Convenors of CENECO Anti-JVA Coalition, sought the declaration of nullity of the joint venture agreement with an application for issuance of a preliminary injunction and a temporary restraining order.

"For non-compliance with the specific provision of the law, the application for the issuance of a temporary restraining order is denied," an order signed by Judge Maria Lina Gonzaga stated.

The order indicated that "when an application for a writ of preliminary injunction or a temporary restraining order is included in a complaint or any initiatory pleading, the case, if filed in a multiple-sala court, shall be raffled only after notice to and in the presence of the adverse party or the person to be enjoined."

"In any event, such notice shall be preceded, or contemporaneously accompanied, by service of summons together with a copy of the complaint or initiatory pleading and the applicant's affidavit and bond, upon the adverse party in the Philippines."

It further stated that based on records, "it is bereft of any notice to the adverse parties before the case was raffled to this Court on June 21, 2023 at 3:00 in the afternoon."

To recall, Razon-led MORE Electric and Power Corp. (MORE Power), through its subsidiary Primelectric Holdings Inc., signed a joint venture agreement with CENECO in which it set aside about P4 billion to modernize and upgrade the power distribution in central Negros.

CENECO serves the cities of Bacolod, Bago, Talisay, Silay, and the municipalities of Murcia and Salvador Benedicto in the province of Negros Occidental.

According to MORE Power president Roel Castro, the P4 billion investment plan for the Central Negros power system will cover the P2 billion cost of assets purchase and another P2 billion for capital expenditure.

The ratification of the signed agreement started on June 24. —KG, GMA Integrated News