Full commercial operations of the Ninoy Aquino International Airport Authority (Naia) Terminal 3 will soon push through, according to the Manila International Airport Authority (Miaa).
Jose Angel Honrado, Miaa general manager, said the Philippine International Air Terminal Corp. (Piatco), in a manifestation filed on Dec. 27, 2011, formally withdrew its appeal to set aside the earlier ruling of Singapore-based International Chamber of Commerce (ICC) dismissing Piatco’s claims against the Philippine government.
“The long-drawn Singapore arbitration case over the Naia Terminal 3 is finally over,” said Honrado in a statement. “The final award of ICC in favor of the Philippine government has become final and executory.”
With Piatco’s withdrawal, the ICC final award granting the Philippine government more than $6 million in arbitration cost has attained finality, Honrado said.
“This final ICC ruling, coupled with the payment of just compensation in the expropriation case decided in our favor by the Regional Trial Court of Pasay City, will pave the way for the full commercial operations of Naia Terminal 3,” he added.