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Zaldy Co firm's dispute with DigiPlus still hangs—lawyers
DigiPlus Interactive Corp. confirmed a legal dispute with former Rep. Zaldy Co's company, Eco Leisure and Hospitality Holdings Co., over the Midas Hotel and Casino.
The dispute centers on the valuation of DigiPlus' stake in the hotel, which is valued at P2.5 billion.
DigiPlus initially won an arbitration case concerning the dispute, but Eco Leisure has appealed the decision to the Pasig City Regional Trial Court.
Eco Leisure claimed its right of first refusal to match DigiPlus' bid to exit the partnership, but later offered to pay only P1 billion, citing alleged unpaid reimbursements from DigiPlus.
The legal battle is part of a larger multibillion-peso conflict between the two companies.
The dispute became public following social media posts suggesting the Anti-Money Laundering Council's (AMLC) freeze orders on Co's accounts could benefit DigiPlus.
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