CA affirms ruling against PSCO in favor of DFNN

The Philippines Court of Appeals (CA) has reaffirmed an earlier decision to award DFNN, Inc. P310 million (US$6.2 million) in damages due to the premature termination of its lease agreement with the Philippine Charity Sweepstakes Office (PCSO), local media reports.

PSCO filed an appeal after an earlier decision from the Regional Trial Court Branch 66 in Makati City which ordered the P310-million monetary award to DFNN.

In affirming the lower court’s ruling, the CA declared the RTC correctly granted DFNN’s petition for correction, which correctly observed “the proper procedure for the correction of an evident miscalculation of figures in the arbitral award.”

The earlier ruling stated that PCSO improperly terminated the agreement with DFNN, noting the grounds relied upon by the PCSO to effect cancellation of DFNN’s contract were misplaced and unfounded.

“While we are happy with the favorable ruling by the Court of Appeals, we would also like to express our willingness to forge a mutually acceptable settlement agreement with the present PCSO management,” DFNN president and CEO Ramon Garcia Jr. said.