Tiu refiles civil case vs Greenergy, MIS

MANILA, Philippines — The camp of businessman Antonio Tiu has refiled a civil case against listed Greenergy Holdings Inc. and MIS Maritime Corp. following an earlier court dismissal.

Tiu told The STAR that his legal team led by Divina Law refiled the case in Makati last week.

“The dismissal of the Bulacan court is purely due to jurisdiction. The merit of the case was not touched that is why we refiled it (on Thursday) and it was raffled,” Tiu said.

The complaint was raffled to RTC Branch 235 with Ricardo Moldez II as the presiding judge.

Greenergy, in a disclosure to the Philippine Stock Exchange last week, said that the Regional Trial Court of Bulacan Branch 7 has dismissed a civil case filed by Tiu, through Earthright Holdings Inc., against the company and MIS Maritime.

The case involves a complaint for rescission with application for the issuance of temporary restraining order and/or writ of preliminary injunction filed against MIS and Greenergy last Aug. 5

In his complaint, Tiu is seeking the rescission of an agreement to assign rights over some 750 million shares in Greenergy held by his Earthright Holdings to MIS Maritime.

The case was raffled off last Aug. 12 and has ended up in a special commercial court with Isidra Arganosa-Maniego as presiding judge.

The civil suit, which may also be upgraded into a criminal case, calls for the court to enjoin or stop MIS and its representatives from exercising any and all supposed rights, including all-important voting rights, over the 750 million common shares in Greenergy covered by a deed of assignment forged by Tiu’s Earthright with MIS.

Earthright claims that it remained the rightful owner of the shares since the P175 million that was supposed to be given in exchange for the rights had not actually been paid.

Tiu said the Bulacan court dismissed the case on purely jurisdictional grounds and it did not touch upon the merits of the case.

In fact, he said the dismissal was without prejudice to the refiling of the case in the appropriate forum.

Tiu also said that there are deliberate efforts being done to tarnish his reputation and drive down the price of Greenergy.

He said these are being undertaken to make it easier and cheaper for competing groups to mount a hostile takeover of Greenergy which owns the controversial Hacienda Binay in Rosario, Batangas.

However, Tiu said he is committed to not let such happen, noting that he is “going all out to prepare his own offense with his truth on his side.”

“This civil case is just the appetizer. The main course, nay, courses, will be put out in the open soon enough,” he said.