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HomeFront PageBreaking NewsCourt Issues TRO Against Former President of Gold Mining Firm in Agusan...

Court Issues TRO Against Former President of Gold Mining Firm in Agusan Sur

A temporary restraining order (TRO) was issued against Raul Villanueva for continuing to represent Philsaga Mining Corporation (PMC) and hindering position takeover despite the termination of his contract on February 15.

The TRO was issued by Regional Trial Court (RTC) Judge Rowena Apao-Adlawan and was served by Sheriff Teresita Ceballos at PMC’s administration building.

Villanueva, who is no longer part of the company’s Board of Directors, sold to Joseph Mahusay his shares of stocks with Philsaga Management and Holdings, amounting to 125,000 common shares.

Mahusay, the current and legal president of PMC, filed a writ of injunction against Villanueva due to the latter’s violation of the employment contract with X64, the Australian partner company of PMC, which holds 40% of their shares.

In a memorandum issued to the PMC employees last March 28, the X64 Board sought to continue its business operations and conduct a full internal audit of the existing policies to ensure maximum efficiency.

“In view of these changes, it is imperative that while we continue with business as usual, all employees should refrain from following any instructions provided by these individuals [Raul Villanueva and Marie Glenn Sorilla], who are no longer employed by PMC,” the document reads.

The Board also highlighted that the actions of the mentioned individuals would not impact the continuity of their operations. However, Villanueva continues representing himself as PMC president in business negotiations, bargaining agreements, and induction ceremonies. He has also propagated dubious claims against the Board in an open letter distributed to over 2,000 company workers.

Joel Escol
Joel Escolhttps://www.youtube.com/channel/UCK_sKdGFs0ewIh9R-iAskDg
Joel Calamba Escol is a journalist in the Philippines for more than 20 years. Currently, he is the Managing Editor of Mindanao Daily News, the biggest and most-widely read newspaper in Southern Philippines. He is also known as Noypi Vlogger in Youtube. You can follow him on the following social networking sites below.
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