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6th & 7th Floors Tuscan Building
114 V.A. Rufino Street, Legaspi Village, 1229 Makati City, Philippines
Telephone: +63 2 8674696
Fax: +63 2 8671304
E-mail: counsel[at]platonmartinez.com
 
Home arrow Law Updates arrow PMFSL wins the biggest award so far before the CIAC
PMFSL wins the biggest award so far before the CIAC Print

The firm recently secured a victory for a client before the Construction Industry Arbitration Commission (“CIAC”) which awarded the amount of  P2,042,139.671.44 representing the balance due to the client inclusive of interest, costs of suit and early completion bonus. The CIAC also imposed an interest rate of 6% per annum on the award computed as of the date of the Decision.
 
The subject was the construction of a portion of a major highway leading to the south that included an elevated section.  The firm represented the contractor that built the project.
 
The award is said to be the largest ever promulgated by the CIAC to date.  The respondent has filed a petition for review before the Court of Appeals.

 
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