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Osmena III vs. Power Sector Assets and Liabilities Management Corporation

SERGIO R. OSMENA III, PETITIONER, VS. POWER SECTOR ASSETS AND LIABILITIES MANAGEMENT CORPORATION, EMMANUEL R. LEDESMA, JR., SPC POWER CORPORATION AND THERMA POWER VISAYAS, INC., RESPONDENTS.

G.R. No. 212686 | 2015-09-28

 
D E C I S I O N
 
VILLARAMA, JR., J.:
 
In a direct recourse to this Court, Senator Sergio R. Osmeña III (petitioner) seeks to enjoin the sale of the Naga Power Plant Complex (NPPC) to respondent SPC Power Corporation (SPC) resulting from the latter's exercise of the right to top the winning bid of respondent Therma Power Visayas, Inc. (TPVI), and to declare such stipulation in the Lease Agreement as void for being contrary to public policy.
 
Antecedents

Respondent Power Sector Assets and Liabilities Management Corporation (PSALM) is a government-owned and controlled corporation created by virtue of Republic Act...