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Baesa Redevelopment Corporation sues Robinson's Supermarket Corporation...

On 22 August 2012, the subsidiary of the Registrant, Baesa Redevelopment Corporation ("BRC"), filed a civil case for damages against Robinson's Supermarket Corporation ("RSC") with the Regional Trial Court of Quezon City. 
The suit is in connection with the breach by RSC of the lease agreement between BRC and RSC covering the property known as the Baesa Town Center, located along Quirino Highway, Baesa, Quezon City. In particular, RSC violated the no pre-termination clause in its lease agreement with BRC. In its Complaint, BRC demanded that RSC pay the following:
  1. PhP36,120,102.65 as actual or compensatory damages or, in the alternative, arising from its abuse of rights;
  2. PhP500,000.00 as exemplary damages; and
  3. PhP1,000,000.00 as attorney's fees, plus expenses of litigation and costs of suit.
The filing of the subject case is expected to improve the financial standing of the Registrant.
 

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"Baesa Redevelopment Corporation sues Robinson's Supermarket Corporation" was written by Mary under the Business category. It has been read 1264 times and generated 0 comments. The article was created on and updated on 23 August 2012.
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