Megawide Construction Corp. said Friday the board of directors of GMR Megawide Cebu Airport Corp. will post bail after a regional trial court in Lapu-Lapu City issued a warrant of arrest for their alleged violation of the Anti-Dummy Law.
“We received information that the warrants of arrest were already issued against the directors of Megawide’s airport subsidiary, GMR Megawide Cebu Airport Corp. for the alleged violation of the Anti-Dummy Law,” the company said in a statement.
“This is a procedural step to acquire jurisdiction over the persons of the said directors, and is being addressed with the posting of bail,” it said.
The court ordered Edgar Saavedra, president and chief executive of Megawide Construction Corp., directors Manuel Louie Ferrer and Oliver Tan, and 12 other officers and directors to post bail amounting to P90,000 each.
“This is the latest development in a long line of attempts to bring down Megawide’s reputation and credibility that, will be recalled, began with its bid for the rehabilitation of NAIA [Ninoy Aquino International Airport],” the company said. Darwin G. Amojelar