Verzontal Builders Inc., one of the local partners of embattled German firm Dermalog, said it would file charges against former Land Transportation Office (LTO) officials over the botched Land Transportation Management System (LTMS) deal.
Verzontal Builders Inc., one of the local partners of embattled German firm Dermalog, said it would file charges against former Land Transportation Office officials over the botched Land Transportation Management System deal.The LTO said it would terminate its P3.14 billion contract with Dermalog due to underperformance.The LTMS was developed through a joint venture agreement between Dermalog and its local partners Holy Family Printing Corp.
'We were unilaterally and illegally removed from the JV because, since day one, we were not paid, and we discovered some fraudulent acts by Dermalog,' Natividad said.Verzontal's legal counsel Ricardo Gao Pronove III said they have sent several letters to the Department of Transportation and the LTO concerning the issue.But instead of discussing their complaint, he alleged that a former LTO official accused them of bullying Dermalog.
Firm To Sue LTO Execs Over Failed Deal
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