INQUIRER.net: Pay Piatco P16B, court orders gov’t

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Pay Piatco P16B, court orders gov't Aug 8th 2013, 22:10 MANILA, Philippines—The Court of Appeals (CA) has ordered the government to pay the Philippine International Air Terminals Co. Inc. (Piatco), the builder of  Ninoy Aquino International Airport (Naia) Terminal 3, "just compensation" amounting to $371,426,688.24 (about P16.2 billion) for the expropriation of the terminal.   The amount was what the company was owed as ofJuly 31 and was based on a legal interest rate pegged at 6 percent per annum, according to the appellate court's third  division which modified the May 23, 2011, ruling of the Pasig Regional Trial Court Branch 117.   Certain aspects of the lower court's ruling were questioned before the ... Keep on reading: Pay Piatco P16B, court orders gov't Media files: naia-3.jpg (image/jpeg)

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