Statement on the Notices of Garnishment relative to the NPC DAMA Case
"The sheriffs' notices of garnishment are legally baseless, violative of due process, premature at best, and hence patently void," declared Power Sector Assets and Liabilities Management (PSALM) Corporation President and CEO Emmanuel R. Ledesma, Jr.
Mr. Ledesma made this statement in reference to the notices of garnishment issued by the sheriffs of the Regional Trial Court (RTC)-Quezon City (QC)...
Korean company submits lowest bid for Malaya OMSC
Korea-based STX Marine Service emerged as the lowest bidder as read for the procurement of the one-year Operation and Maintenance Service Contract (OMSC) for the 650-megawatt (MW) Malaya Thermal Power Plant (TPP), the Power Sector Assets and Liabilities Management (PSALM) Corporation has reported on Tuesday, 12 August 2014.
STX is a provider of maritime solutions, and among its services are ship...
PSALM awards Naga power plant to SPC
The Power Sector Assets and Liabilities Management (PSALM) Corporation has awarded the sale of the 153.1-megawatt (MW) Naga Power Plant to SPC Power Corporation.
PSALM issued the Notice of Award (NoA) and the Certificate of Effectivity (CoE) to SPC on 30 July 2014 together with one (1) original executed copy of the Final Transaction Documents, which consisted of the Asset Purchase Agreement (APA)...
PSALM procures O&M contractor for Malaya plant
With the published Invitation to Bid released on Monday (14 July 2014), the Power Sector Assets and Liabilities Management (PSALM) Corporation has commenced its procurement of a one-year Operation and Maintenance Service Contract (OMSC) for the 650-megawatt (MW) Malaya Thermal Power Plant (TPP).
"We would like to invite generation companies and eligible entities, especially those who are interested...
Statement on the Notices of Garnishment relative to the NPC DAMA Case (Part 2)
"If our funds are garnished, our long-term debts would become immediately due and demandable," informs Power Sector Assets and Liabilities Management (PSALM) Corporation President and CEO Emmanuel R. Ledesma, Jr. "This will result in operating cash deficit, which will lead to power shortage nationwide," he adds. Mr. Ledesma explains that, under PSALM's loan agreements, garnishment is a ground for...