First PV Ventures Corporation and First Philec Nexolon Corporation filed a request for arbitration over their dispute with Nexolon Co. Ltd

First PV Ventures Corporation (First PV) and First Philec Nexolon Corporation (FPNC) have filed a request for arbitration of their dispute with Nexolon Co. Ltd (Nexolon) with the International Chamber of Commerce. FPNC is a joint venture company established by First PV and Nexolon to slice silicon wafers for Nexolon. First PV is wholly-owned subsidiary of First Philippine Electric Corporation ("First Philec"). First Philec is the manufacturing subsidiary of First Philippine Holdings Corporation ("FPH"). Both FPNC and Nexolon are alleging breaches by the other party of their Wafer Slicing Supply and Services Agreement. First PV is joining the arbitration as a party to protect its rights under the joint venture agreement with Nexolon. FPNC has sought arbitration in order to enforce its rights under the Agreement, including the payment of unpaid sums of money by Nexolon, and for such other reliefs as the arbitration tribunal shall deem appropriate. - https://www.affordablecebu.com/