LWUALocal Water Utilities Administration (Philippines)
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The aggrieved party asserted the LWUA should have stood by its previous decision and maintain its recognition of the ruling of the RTC in Tacloban City instead of favoring the appointees of Romualdez.
It also noted that the LWUA board had no authority to grant P29.
The convention will hear resource speakers from LWUA, the Department of Health, the Department of Interior and Local Government, and the private sector.
The court said the assignment of shares by ESBI stockholders to LWUA 'does not lead the reasonable mind to conclude that there is conspiracy' to profit from the transaction at the government's expense.
The panel said Pichay as LWUA board chair was in control of the LWUA funds used to buy 60 percent of ESBI's shares, which means he should be indicted for malversation.
Pichay alleged that the MORB only covers banks and not the LWUA.
The criminal charges involve the acquisition by the LWUA of ESBI, a local thrift bank based in Laguna owned by the Gatchalians, FPI and WGI.
Prosecutors claimed that LWUA disregarded austerity measures to divert the funds in Pichay's favor.
The LWUA has been working in partnership with the regional lender since 1970s, and has secured financial support for six projects.
Pichay, as both president of the NCFP and acting chairman of the LWUA Board of Trustees, voted for the approval of LWUA's 2010 corporate operating budget that had a 'noticeably sizable allocation' of P1.
Stella Tansengco-Schapero, senior finance specialist at the ADBs Southeast Asia department said, LWUA will on-lend the funds to water districts for water network upgrades and extensions and new sanitation systems.
Andres Ibarra, the current LWUA administrator and their counsel Atty.