EXPLAINER: Opinion of Office of Government Corporate Counsel misses or skips LWUA rule on declaring default, a host of causes. OGCC sees only one from PD 198: non-payment of loan. LWUA takes over MCWD for its alleged failure and irregularities and LGU Cebu City's request for intervention.

Indonesia Berita Berita

EXPLAINER: Opinion of Office of Government Corporate Counsel misses or skips LWUA rule on declaring default, a host of causes. OGCC sees only one from PD 198: non-payment of loan. LWUA takes over MCWD for its alleged failure and irregularities and LGU Cebu City's request for intervention.
Indonesia Berita Terbaru,Indonesia Berita utama
  • 📰 sunstaronline
  • ⏱ Reading Time:
  • 75 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 33%
  • Publisher: 59%

SunStar Publishing Inc.

The OGCC opinion fails to tackle adequately the issue of default, mainly on what constitutes default of the local water district. Instead of OGCC'S view that the law provides only one cause of default -- non-payment of MCWD debt --

had on several occasions interacted with MCWD on issues raised against it.WHAT JUST HAPPENED. Released Tuesday, April 2, 2024, was an opinion of the Office of Government Corporate Counsel dated March 26.Sought last March 18 by Metropolitan Cebu Water District , the opinion was to answer its inquiry on the March 15 'partial takeover' of the local water district by Local Water Utilities Administration .WHAT OGCC OPINION CLARIFIES. The eight-page opinion -- signed by Solomon M.

's interim board, speaking for MCWD, said he interprets the OGCC opinion as 'favorable to us,' they who resist may take over and intervene in management and operations of a local water district 'only when the district is default of its loan obligation.' The says MCWD obtained on August 11, 2015, under a financial assistance contract , the sum of P33 million, 50 percent of which or P16.5 million is grant and the other 50 percent or P16.5 million as loan. As of August 2023, the loan balance was P13,805,000, with MCWD paying P55,000 a month.No past-due debt mentioned. But then to

'constitutes default on the part of MCWD.'What OGCC could've looked into was the validity of the causes of default that are added by contract and 's Resolution #35. And they may not have also read a copy of the FAC or loan contract, which adopts an all-embracing reason to declare default.MCWD official may not also have read the resolution, as they complained that

Berita ini telah kami rangkum agar Anda dapat membacanya dengan cepat. Jika Anda tertarik dengan beritanya, Anda dapat membaca teks lengkapnya di sini. Baca lebih lajut:

sunstaronline /  🏆 18. in PH

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

LWUA, MCWD disagree on OGCC opinionLWUA, MCWD disagree on OGCC opinionSunStar Publishing Inc.
Baca lebih lajut »

LWUA visits MCWD, insists on partial interventionLWUA visits MCWD, insists on partial interventionSunStar Publishing Inc.
Baca lebih lajut »

Donoso gimandoan sa LWUA pagtumanDonoso gimandoan sa LWUA pagtumanSunStar Publishing Inc.
Baca lebih lajut »

LWUA tells MCWD general manager to do his jobLWUA tells MCWD general manager to do his jobSunStar Publishing Inc.
Baca lebih lajut »

Daluz board out; LWUA takes over MCWDDaluz board out; LWUA takes over MCWDSunStar Publishing Inc.
Baca lebih lajut »

LWUA mi-take over pagduma’ sa MCWDLWUA mi-take over pagduma’ sa MCWDSunStar Publishing Inc.
Baca lebih lajut »



Render Time: 2025-02-25 18:11:57