- Petitioner
- Asset Pool A (Spv-Amc)
- Respondent
- Clark Development Corporation
- Citation
- G.R. No. 205915
- Court
- Supreme Court
- Division
- First Division
- Ponente
- Bersamin, J.
- Decided
- November 10, 2015
Summary
Asset Pool A (SPV-AMC), Inc., successor to secured creditors UCPB and Metrobank, sued Clark Development Corporation for specific performance to include creditor claims in Mimosa Leisure Estate privatization bidding. The case progressed from RTC (adverse 2008 order) through CA (2012 dismissal of certiorari petition) to Supreme Court. During appeal pendency, CDC announced new 2015 privatization, prompting SC's temporary restraining order. Rather than continue litigation, parties executed compromise agreement providing PhP277.413 Million immediate payment to APA, continued revenue sharing until privatization, PhP765 Million payment upon successful privatization from proceeds, and mutual waiver of all claims. Supreme Court approved the compromise, recognizing it as valid contract with res judicata effect under Civil Code provisions, lifted the TRO, and dismissed the appeal, demonstrating judicial preference for amicable settlement over prolonged litigation.