Vitarich to get P59M of claim from Charter Ping An Insurance
The Sarmientos’ Vitarich Corporation may soon get P59 million from its P316-million claim from Charter Ping An Insurance for the losses it suffered during typhoon Ondoy in 2009.
In a disclosure to the stock exchange, Vitarich said the Regional Trial Court of Malolos Branch 15 has ordered the Office of the Clerk of Court to release the P59 million that was consigned to the court to Vitarich, representing partial payment of its claim that is covered by Official Receipt No. 3921267 dated July 14, 2016.
Vitarich’s claim on Charter Ping An Insurance is under appeal and is currently at the Court of Appeals.
Vitarich’s original claim was with Philippine Charter Insurance Corporation, now Charter Ping An Insurance, for the losses and damage to its raw materials, stocks, machinery, equipment, buildings, and plants because of the floods from Typhoon Ondoy.