STI Holdings Inc. of businessman Eusebio Tanco has won the first round of its battle with the Benitez family.
STI said in a disclosure to the stock exchange the Makati Regional Trial Court dismissed the election protest filed by Philippine Womens University of the Benitez group.
The Makati RTC also affirmed the position of STI Holdings that the composition of the PWU members and trustees had not been changed.
STI temporarily withdrew its step-in rights in PWU in a bid to protect the welfare of the students and faculty considering the PWU community was confronted with a university that was locked down by the Benitez family.
The Benitez group in a statement said the election contest was dismissed because the STI group backed off and resigned, rendering the case academic.