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Tuesday, May 30, 2017

COURT LIFTS GARNISHMENT OVER ABS-CBN & SKYCABLE ASSETS

ABS CBN and Sky Cable received an ex-parte writ of attachment and notice of garnishment from the Mandaluyong Regional Trial Court on Thursday, 25 May 2017, in connection with the collection complaint of Solar Entertainment Corporation. 

ABS-CBN and Sky Cable immediately filed a motion to lift the attachment and garnishment on the morning of May 29, which the court granted on the same day. 

Thus, at this time, there is no effective attachment or garnishment over any asset of ABS-CBN or Sky Cable. 

In 2014, ABS-CBN and Solar jointly entered into a license agreement with NBA Properties Inc. Since ABS-CBN was paying 60 percent of the license fees, it considered that the same already covered the carriage fees of Sky Cable. Unfortunately, Solar disagreed. Despite the good faith attempts of ABS-CBN and Sky Cable to resolve the dispute amicably, Solar cut off the NBA feed to Sky Cable and filed this complaint. 

We will submit our answer with counterclaims to this complaint. 

We are confident we will prevail.

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