Pangilinan group restores Cagayan de Oro water supply as Marcos steps in

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The supply from COBI accounts for nearly half of the treated water the COWD has been distributing in Cagayan de Oro and parts of Misamis Oriental.COBI and COWD have been embroiled in a corporate dispute over an outstanding debt since 2021, which has now nearly reached P500 million. Despite repeated demands and notices of disconnection, the water district refused to acknowledge the ballooning debt, from a regional court.

Marcos also said the business tycoon agreed to his request and even agreed to meet with Cagayan de Oro Mayor Rolando Uy. LWUA immediately responded to Marcos’ order about a potential takeover, saying its board has scheduled a meeting on Friday, May 17, “to discuss the next steps we will take as the regulating agency.”COBI welcomed Marcos’ intervention and effort to resolve its dispute with COWD.

He said LWUA allowed the entry of COBI in Cagayan de Oro at the time when the COWD and its previous bulk water supplier, Rio Verde Water Consortium Incorporated, suffered problems with their contract and transactions.

Source: Law Daily Report (lawdailyreport.net)

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