CEBU CITY—Another tollway unit of Metro Pacific Investments Corp. sued the government for failure to increase toll at the Manila-Cavite Expressway since January 2012.
“The notice has been sent to the government. We are just awaiting for the reply,” Metro Pacific Tollways Corp. president Rodrigo Franco told reporters here.
Cavitex Infrastructure Corp. on April 15, issued a notice of arbitration and statement of claim to the government through the Toll Regulatory Board.
Ity said the filing of the arbitration was consistent with the dispute resolution procedures under the existing toll operation agreement to obtain compensation in the amount of P877 million as of March 27 this year for TRB’s inaction on lawful toll rate adjustments, which were due 1 January 2012, 1 January 2014, and 1 January 2015.
“Despite compliance with applicable legal requirements and submission of proper petitions, and even after acceding to TRB’s requests to extend the amicable settlement period by more than 90 days, CIC has not received any feasible settlement offer from the TRB,” parent Metro Pacific Investments Corp. said in a disclosure to the Philippine Stock Exchange.
CIC said it was compelled to deliver the notice of arbitration to preserve its rights under the TOA.
“We have not filed yet the arbitration case in New York, but it’s already the start of the arbitration process,” Franco said.
CIC has nominated former Supreme Court Justice Antonio Eduardo Nachura as one of the members of the arbitration panel while the government will also nominate one. The two members will nominate the third member.
Manila North Tollways Corp., the operator of North Luzon Expressways, on April 4 issued a notice of arbitration and statement of claim to the government through the TRB, consistent with the dispute resolution procedures under the existing supplemental toll operation aqgreement.
The company plans to file the arbitration case in Geneva.
The operator of NLEX was seeking for a P3-billion compensation claim as of last year for the TRB’s inaction on lawful toll adjustments, which were due since January 1, 2013.
MNTC filed a petition with TRB in September 2014 for the bi-annual toll adjustment that was supposed to start on Jan. 1, 2015, as stipulated under its concession.
The new petition is on top of the one the company filed in 2012 for a toll increase scheduled in January 2013. This would bring the cumulative toll adjustment to 15 percent, of which 12 percent was long overdue.
Tolls at NLEx from Mindanao Avenue to Sta. Ines currently amount to P218 for Class 1 vehicles (cars, jeepneys, pickup trucks and vans), P544 for Class 2 vehicles (two-axle trucks, buses and vans) and P652 for Class 3 vehicles (trucks and trailers with three or more axles).