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SHERIFF LEVIES GLOBAL STEEL

The sprawling Global Steel Complex 
acquired from National Steel Corporation. 
(Global Steel Photo)

By Frank E. Dosdos, Jr.
Iligan City, Philippines

The Office of the Deputy Sheriff, this City, has published a Notice of Levy against Global Steel Philippines, Inc., the present owner of the steel manufacturing plant formerly owned by National Steel Corporation.

Documents reaching the New Ranao Star show that the levy is being imposed by virtue of the Writ of Execution dated March 4, 2016, issued by the Honorable Beverly Selim-Musni, Labor Arbiter of the National Labor Relations Commission in “Irving Fabricante, et al. versus Global Steel Philippines, Inc.”

Accordingly, the levy is imposed for the “recovery by the complainant against the Respondents, x x x, the sum of FOUR MILLION THREE HUNDRED THOUSAND SIXTY SEVENTY FOUR PESOS & 55/100 (P4,367,974.26) plus execution fee in the amount of FORTY THREE THOUSAND ONE HUNDRED SEVENTY PESOS (P43,170.00) and deposit fee in the amount of (TWENTY ONE THOUSAND EIGHT HUNDRED FIFTY NINE PESOS & 87/100 (P21,869.87) and incidental expenses incurred in the enforcement of the writ,”

The levy listed mobile equipment and related movable properties.

It appears that the Writ of Execution was issued pursuant to a compromise agreement reached by the parties in NLRC Case No. X-03-15079-14 to X-03-15095.

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