The hotel’s auction was supposed to take place yesterday morning, but Regional Trial Court Judge Emmanuel Carpio put it on hold until the civil case filed by the hotel management is resolved first.
The sale of Apo View, owned by the Pamintuan clan, stemmed from a debt of over P335 million to Banco Filipino.
Banco Filipino sought the hotel’s foreclosure after the 60-day restraining order, which the Court of Appeals issued last December, expired last Feb. 14.
Carpio acted on a petition by the Pamintuans asking the court to declare the payment suspended, appoint a rehabilitation team and approve the rehabilitation.
The hotel, one of the oldest in the country, is a prime property located in the heart of the city’s business district. — Edith Regalado