A power cooperative in South Cotabato has secured victory over an attempt to block a plebiscite on its proposed partnership with Ignite Power and Energy Holdings Inc.
In a 12-page ruling dated September 11, the Regional Trial Court in Polomolok, South Cotabato, has granted South Cotabato II Electric Cooperative’s (Socoteco II) motion to lift a temporary restraining order (TRO), removing legal hurdles for member-consumer-owners to vote on the planned deal.
It lifts a September 4 restraining order, extended to September 24, affecting the initial voting set earlier this month.
The court dismissed as ‘speculative’ the allegations of a lack of transparency in Socoteco II’s move approving the conditional joint venture agreement.
‘What plaintiff offers is a conjecture presented as violation, and an injunction will not protect a right founded on nothing more than speculative claim,’ the decision read.
It added, ‘The parties still need to finalize the proposed deal, as it remains conditional and incomplete.’
If irregularities marred the plebiscite, the court stated that the plaintiff could still present his case and seek to nullify it, including the planned joint venture.
‘The JVA remains subject to a final, independent stage. It has not yet happened. Until it does, whatever consequence plaintiff fears from it remains a possibility hedged by condition, not an injury demonstrable in the present,’ the court said.
Socoteco II, meanwhile, said that voting could now proceed, with dates set on September 19 to 20 and September 26 to 27.
Manny Pacquiao, the boxing legend and former Senator, backs Ignite Power, along with Prime Electric Holdings Inc., led by Razon.