Willie posts P426 million bond in contract case

MANILA, Philippines – Television host Willie Revillame posted a P426-million surety bond Wednesday before a court that required it while his case against ABS-CBN is still being heard.

Revillame’s counsel said the host was able to post the amount through a bond corporation on Oct. 27, the deadline given by the court.

Quezon City Regional Trial Court Branch 84 Judge Luisito Cortez last week ordered Revillame to post a bond of P426,917,646.96 representing the principal counterclaim amount being sought by ABS-CBN.

Revillame, who has a new show on TV5, had asked the court to confirm his decision to end his contract with his former mother network and sought P11 million in damages.

ABS-CBN, in response, sued Revillame for P426 million for allegedly breaching his contract, which was valid until 2011.