Court stops auction of ATI properties

Port operator Asian Terminals Inc. (ATI) has obtained a writ of preliminary injunction from the Bataan Regional Trial Court preventing the public auction of its properties in Mariveles, Bataan.

In a disclosure to the Philippine Stock Exchange, ATI said the court order effectively stops the Bataan provincial government from selling certain properties at the Mariveles Grains Terminal (MGT) on any subsequent dates after October 15, the original schedule for the public bidding.

ATI’s properties were being sold due to alleged unpaid taxes.

The company, however, has denied this, saying it has “religiously paid its taxes.”

In its order, the Bataan RTC said the public auction was premature as it would violate ATI’s right to due process pending the verification of the assessments made on its properties.

ATI, which owns a 15-year contract to operate the MGT up to 2013, manages port terminals nationwide with the Manila South Harbor as its flagship.

Earlier reports said Southeast Asia’s food and beverage conglomerate San Miguel Corp., along with Japanese firm Toyota Tsusho Corp., plans to buy MGT from ATI for P1.6 billion. ATI said proceeds from the sale of MGT would be used for the expansion and modernization of its operations at the South Harbor.

The MGT, which is considered the country’s most modern grain handling facility, has four unloaders or port equipment that can discharge wheat at an average rate of 10,000 metric tons a day.      – Zinna Dela Peña