Makati to withdraw from settlement agreement over ownership of Makati subway project

The Makati city government, headed by Mayor Nancy Binay, announced that the city government will withdraw its consent over the settlement agreement entered into by former Mayor Abby Binay-Campos regarding the ownership and operation of the Makati Subway Project on Tuesday, July 8.

- By PATRICK GARCIA

In a media forum, city legal officer Atty. Ava Mari Ramel said the city government will file a motion to vacate the settlement to rescind the previous administration’s prior action of agreeing.

She added that the motion will be filed before the Singapore International Arbitration Center (SIAC) on July 11.

On July 6, Mayor Nancy slammed what she called the city’s previous administration’s “midnight deal” with the contractor of the Makati subway project worth P8.96 billion, giving full ownership of the project to the city government just days before her term ended.

Binay said the agreement, which was approved and signed by the Makati City Council on June 23, requires the city government to pay P8.96 billion to Philippine InfraDev Holdings Inc. (InfraDev) within 90 days from the issuance of the consent award by SIAC.