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Article: PHILIPPINE SC ORDERS MARCOPPER TO REPAY RCBC US$ 4.3-M LOAN.
- Article from:
- AsiaPulse News
- Article date:
- November 9, 2009
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MANILA, Nov 9 Asia Pulse - The Philippine Supreme Court (SC) has reissued its order directing Canadian Marcopper Mining Corp. to pay its US$ 5.43-million restructured loan with the Rizal Commercial Banking Corp. (RCBC).
The SC Second Division, in a 14-page ruling, denied the motion filed by Marcopper seeking a reconsideration of its September 12, 2008 decision for lack of merit and for failure to raise any new argument that would warrant such reconsideration.
"We have thoroughly reviewed the records of the case and we find no reason to change our previous ruling that there was no agreement for RCBC to execute a partial release of mortgage and pledge," it ...