DFNN said it is hopeful a long-standing legal dispute with the Philippine Charity Sweepstake Office (PCSO) is close to being settled and it will be able to collect the PHP310 million ($5.9 million) in damages that it was awarded by a court.
The company said on Friday that it received a May decision from the Court of Appeals that denied PCSO’s Petition for Certiorari, which sought to challenge a 2016 court decision awarding damages to DFNN for the termination of a lotto equipment lease contract.
The award also granted 6 percent a year in interest penalties to DFNN until the award is paid out.
“DFNN is optimistic that this long, drawn legal proceedings shall finally be laid to rest and collection consummated,” the company said. “PCSO will also be able to put a cap on the interest penalties imposed by the court.”
The spat dates back to 2005.
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